The annual license fee to engage in the business of a collection agency within the City shall be one hundred dollars. For the purposes of this section, solicitation or collection by or through an agent operating within the city shall be considered to be engaging in the business of a collection agency within the City. Before such certificate of license is issued, the person applying for the same shall execute a continuing bond in the form prescribed by the City with satisfactory corporate surety in the penalty of two thousand dollars, conditioned that such person will pay all damages resulting from any unlawful act or action by such person or his agent in connection with the conduct of the business of the collection agency. This bond shall be filed with the City.
(6-20-60)