Each person engaging in solicitation activities requiring cash deposits or taking orders for cash on delivery (COD) purchases or who requires a contract of agreement to finance the sale of any goods, services, or merchandise for future delivery, or for services to be performed in the future, shall furnish to the city a cash bond in the amount of $10,000, naming the applicant for the permit as principal. The bond shall be in full force and effect for one year from the date of issuance of the permit, unless otherwise extended by demand of the City due to the revocation of the permit, or an anticipated delivery date beyond 12 months, in order to protect the citizens of the City from potential losses associated with such solicitations. The city will not pay any interest on any bonds or other financial instruments required by applicant as part of this permit.
(Ord. O-12-724, passed 2-6-2012)