Before any license shall be issued for engaging in a business as defined in this chapter, the applicant shall file with the Clerk-Treasurer a penal bond running to the city in the sum of $10,000 or three times the value of the goods or automobiles intended to be sold or offered for sale, whichever is greater. The bond must be executed by the applicant, as principal, and two sureties upon which service of process may be made in the state; the bond to be approved by the City Attorney, conditioned that the applicant shall comply fully with all the provisions of this code and any other ordinances of the city and the statutes of the state, regulating and concerning the sale of goods, wares and merchandise. Applicant will pay all judgments rendered against the applicant for any violation of this chapter or statutes, or any of them, together with all judgments and costs that may be recovered against the applicant by any person or persons for damage growing out of any misrepresentation or deceptive practices of any person transacting business with the applicant, whether these misrepresentations or deceptions were made or practiced by the owners or by their servants, agents, or employees, either at the time of making the sale or through any advertisement of any character whosoever, printed or circulated with reference to the goods, wares, and merchandise sold, or any part thereof. Action on the bond may be brought in the name of the city to the use of the aggrieved person. The bond must be approved by the City Attorney, both as to form, substance, and as to the responsibility of the sureties thereon.
(Ord. 2006-06, passed 9-11-2006)