At the time of filing an application for a license, the applicant shall file a bond in the amount of five thousand dollars ($5,000) with the city. The bond, with a duly licensed surety company as surety thereon, must be approved as to form by the City Attorney. The bond must be conditioned that the Licensee shall observe the ordinances of the city, in relation to the business of pawnbroker, and that the licensee will account for and deliver to any person legally entitled thereto any articles which may have come into the possession of the licensee as pawnbroker or, in lieu thereof, the licensee shall pay the person or persons the reasonable value thereof.
(Ord. 427, passed 11-18-2014)