(A) At the time of filing the application, and as a part thereof, the applicant shall file and deposit with the City Clerk a bond, with sureties to be approved by the City Commission, in the penal sum of two times the value of the merchandise proposed to be offered for sale at the auction as shown by the inventory filed, running to the state and for the use and benefit of any purchaser of any merchandise at the auction who might have a cause for action of any nature arising from or out of the auction sale against the auctioneer or applicant; the bond to be further conditioned on the payment by the applicant of all taxes that may be payable by, or due from, the applicant to the state, or any department or subdivision thereof, the payment of any fines that may be assessed by any court against the applicant or auctioneer for violation of the provisions of this chapter, and the satisfaction of all causes of action commenced within one year from date of the auction sale and arising therefrom; provided, however, that the aggregate liability of the surety for all taxes, fines, and causes of action shall in no event exceed the amount of the bond.
(B) In the bond, the applicant and the surety shall appoint the City Clerk of the city, the agent of the applicant, and the surety for the service of process. In the event of this service, the agent on whom the service is made shall, within five days after the service, mail by ordinary mail a true copy of the process served upon him or her to each party for whom he or she is served, addressed to the last known address of the party. Failure to so mail the copy shall not, however, affect the court’s jurisdiction.
(C) The bond shall contain the consent of the applicant and surety that the Circuit Court of the county or the District Court of the city wherein the application and bond is filed shall have jurisdiction of all actions within the jurisdiction of the respective courts against the applicant or surety, or both, arising out of the sale.
(D) The state or any subdivision thereof, or any person having a cause of action against the applicant arising out of the sale of the new merchandise, may join the applicant and the surety on the bond in the same section, or may in the action sue either the applicant or the surety alone.
(1993 Code, § 112.04) Penalty, see § 10.99