(a) Each applicant hereunder shall execute and file with the Mayor a good and sufficient bond of two thousand five hundred dollars ($2,500), except that such bond shall not be required when the wholesale market value of the goods, wares or merchandise to be offered for sale is not in excess of five thousand dollars ($5,000), with two or more sureties thereon who shall be freeholders within the Village, or with the surety thereon a surety company authorized to do business in Ohio. The bond shall be to the approval of the Village Solicitor and shall be conditioned upon faithful observance of all the conditions of this chapter and shall also indemnify any purchaser who suffers any loss by reason of misrepresentations in a sale licensed hereunder.
(b) The bond shall continue in effect for a period of one year. The licensee shall notify the Mayor of any suit filed as a result of the operations hereby licensed. Any purchaser claiming to have been damaged by misrepresentation in the sale may maintain an action at law against the licensee making such misrepresentation and may join as party defendant the surety or sureties on such bond as herein provided.
(Ord. 66- 937. Passed 5-9-66.)