An applicant for a studio license must, prior to the issuance of such license, file with the Director of Finance a bond with sufficient surety in the amount of one thousand dollars ($1,000), payable to the City and conditioned upon the applicant's continuing in such business in the City for at least six months from the date of the bond. If the applicant fails to continue in such business for such period, the principal of the bond shall be forfeited to the City. Upon the approval of the bond by the Director of Finance and the payment of the license fee, a license shall be issued.
If such a license is issued at any time after July 1 of any year, the license fee for the remainder of that year shall be one half of the annual license fee provided for in Section 836.03.
(Ord. 4670. Passed 7-13-94.)