Before receiving a license under the provisions of this chapter, each person shall file with the City Clerk a bond executed by a surety bonding company licensed to do business in the state in the sum of $2,000, conditioned that the licensee will comply with all the conditions and regulations of this chapter and that he or she will pay all fines, costs or penalties imposed for his or her failure to do so and will pay all damages resulting to any person by reason of his or her wrongful purchasing, taking or receiving in pledge or on deposit, stolen property.
(Prior Code, § 3-5-11) (Ord. 287, passed 11-21-1983)