No license shall be issued for a liquidation sale unless there is filed with the Mayor a bond conditioned upon the observance of all the conditions of this chapter and the indemnifying of any purchaser at such sale who suffers any loss by reason of any misrepresentation made in connection therewith, and authorizing actions thereunder by the City for the violation of any provisions of this chapter, and by any purchaser at such sale for damages or loss suffered by him by reason of any misrepresentation made in connection with such sale. The amount of the bond shall be determined as follows: five percent of the inventory cost of all the goods, wares and merchandise to be offered at sale. The bond shall be approved as to form by the City Solicitor.
(Ord. 17-59. Passed 3-9-59. )
(Ord. 17-59. Passed 3-9-59. )