Any person desiring to conduct a going-out-of-business sale within the city, shall before engaging in a sale, file with the Mayor or his or her representative an application as required in this chapter and which shall be accompanied by a bond of $1,000 executed by a surety company or by 2 responsible freeholders residing in the city, or in lieu thereof a cash bond of equal amount, conditioned upon all goods sold being as presented. Any person aggrieved by the action of any person conducting a going-out-of-business sale shall have a right of action on the bond for the recovery of money or damages or both. In the event a bond is deposited, the deposit shall be retained by the city, for a period of 90 days after the expiration of the going-out-of-business-sale license. The Mayor or his or her representative shall not issue a license for a going-out-of-business sale until the bond provided for in this section has been filed and approved.
(1981 Code, § 114.09) (Ord. 4008-62, passed 3-12-1962) Penalty, see § 113.99