No license for the operation of any salvage yard or similar entity shall be issued within the limits of the city unless the application for such license provides a bond in the sum of at least $250,000 (and such additional amount as set by the City Council in its discretion) in favor of the city. The conditions of which shall include the following:
(A) Compliance with all city ordinances and applicable state and federal laws and regulations;
(B) Payment of any and all amounts deemed to be due to the city or any person or entity doing business with the licensee within the city; and
(C) Payment of any and all assessments, fines, penalties or other amounts determined to be due and owing by the licensee to any of the city, the state or any subdivision thereof.
(Ord. 234, passed 10-4-2000)