No transient merchant, hawker, peddler, or solicitor license shall be issued unless and until the applicant files with the city a corporate surety bond in the sum or sums determined appropriate from time to time by resolution of the City Council, with sufficient sureties and in favor of the city or persons harmed and for the benefit of any residents who may sustain individual loss by means of fraud, artifice, trick, or other means of theft practices by the licensee on such resident, as determined in the discretion of the City Council.
(Ord. 15-2, passed 11-10-2001) Penalty, see § 110.99