The applicant shall file with the City Clerk a surety bond or shall make cash deposit unless waived by the city. The amount of the bond or deposit shall be equal to 50% of the wholesale value of the merchandise that the applicant intends to offer for sale; however, the amount of the bond or deposit shall not be less than $1,000, nor more that $10,000. The city may waive the requirement of posting a surety bond or cash deposit.
(1994 Code, § 113.06) (Ord. 2001-11, passed 7-23-2001)