Before a registration under this chapter shall be approved, the applicant shall post with the Clerk a bond, issued by a surety company authorized to insure the fidelity of others, in the state, in the amount of $500 or, alternatively, the applicant may post cash or cash equivalent in the amount of $500 conditioned to the forfeiture of the principal sum of the bond or such part thereof as may be necessary to indemnify the city for any penalties or costs occasioned by the enforcement of this chapter; and to make payment of any judgment rendered against the registrant as the result of a claim or litigation arising out of or in connection with the registrant’s activities in the city. The bond shall not be canceled or refunded until 30 days after the expiration of registration.
(Prior Code, § 3-1-6) (Ord. 263, passed 9-20-1982; Ord. 390, passed 7-16-1990)