No license to be a transient merchant will be issued until a bond in the amount of six hundred dollars ($600.00) for every ten thousand dollars ($10,000) in merchandise is filed with the City Clerk (e.g. ten thousand dollars ($10,000) of merchandise or less equal six hundred dollars ($600.00) bond, ten thousand one dollar ($10,001) to twenty thousand dollars ($20,000) in merchandise equal one thousand, two hundred dollars ($1200) bond, etc.). Such bond shall be conditioned upon the applicant's faithful performance of all contracts and fulfillment of all warranties made by him or her in connection with the business or acts for which such license is sought. The bond is refundable at the end of the licensed period. The bond is not due until after the preliminary investigation has been concluded and the applicant has been found to be satisfactory.
(Ord. 369. Passed 7-5-95.)