A. Auction House: Any applicant for a license to conduct an auction house shall execute a corporate surety bond in the sum of one thousand dollars ($1,000.00) in favor of the city and of any person injured or damaged by false or fraudulent representations dealing with such auction house, conditioned for the faithful observances of all laws and ordinances of the city, the honest conduct of the business engaged in, and for the payment of damages to all persons injured or damaged by fraud or false or fraudulent representations in dealing with said auction house; said bond to be approved by the city council and filed in the office of the city recorder. Such applicant shall also pay into the city treasury the license fees hereinafter provided for.
B. Auctioneer; Exception: Any applicant for an auctioneer's license shall file a like bond in like amount as is herein required for an auction house, and shall pay the license fees herein required; provided, however, that the city council may, in its sole discretion, issue a license to an auctioneer without the requirement of a bond in cases where said auctioneer operates solely and exclusively from a licensed auction house, within the limits of the city. (1985 Code § 11-2-3)