At the discretion of the Finance Director of the city, any operator may be required to post a sufficient bond or other appropriate security in order to assure remittance to the city of any transient occupancy tax, interest, or penalty due under this section. Such bond or other appropriate security shall be posted and maintained in a form and in an amount approved by the City Finance Director and the City Attorney and may be required to be posted and maintained immediately upon an operator's failure to remit any tax, interest, or penalty due.
(Ord. 1144, passed 9-1-93)