(A) (1) At the time of filing the application and as a part thereof, the applicant shall file and deposit with the Clerk-Treasurer, a bond in the penal sum of $1,000 in cash, or a bond payable to the Town of Fremont secured by a surety having his or her principal place of business in Indiana.
(2) The bond and surety must be approved by the Clerk-Treasurer. The bond must be valid for 365 days.
(3) The bond must be payable to the Town of Fremont who is named as agent for service of process by both you and the surety.
(4) The bond proceeds are first to be for the use and benefit of the town to pay for any fines, court costs and judgments that may be assessed against the applicant, its agents or employees, in favor of the town for the violation of any provisions of this town code.
(5) The remainder of the bond shall be for the use and benefit of any purchasers of any goods, wares or merchandise who might have a cause of action against the applicant rising from or out of the sale or sales.
(B) Unless the Clerk-Treasurer is given written notification of a pending cause of action by the town or any person within 1 year from the date of expiration of the license, the Clerk-Treasurer shall release the bond 1 year after the expiration of the license.
(Ord. 2000-4, passed 4-10-2000)