(A) Each application for a transient business license shall be accompanied by a fee of $500. In addition, any applicant who will be selling goods, wares or merchandise during the permit period shall secure and submit evidence of security a cash bond or a surety bond in the amount of $5,000 or 5% of the retail value of any goods, wares or merchandise to be offered for sale, whichever is greater. The evidence of security shall be held by the City Clerk-Treasurer who shall issue a certificate of security to be used by the applicant as evidence of security.
(B) The surety bond required by subsection (A) above shall be a favor of the city and shall assure the payment by the applicant of all taxes that may be due from the applicant to the city, the payment of any fines that may be assessed against the applicant, and for the satisfaction of all judgments that may be rendered against the transient merchant in any claim or cause of action commenced by any purchaser of goods or merchandise from the transient merchant.
(C) The bond shall be maintained so long as the transient merchant conducts business in the city and for a period of one year after the termination of the business and shall be released only when the transient merchant furnishes satisfactory proof to the City Clerk-Treasurer that it has satisfied all claims of purchasers of goods, wares or merchandise from the merchant, and that all state, county and other taxes and fees have been paid.
(Ord. 2005-12, passed 7-25-2005)