At the time of filing the application, the applicant shall also file and deposit with the Town Clerk-Treasurer a bond with sureties to be approved by the Town Clerk-Treasurer in the penal sum of $750, or three times the value of the goods, wares, and merchandise to be offered for sale or sold as shown by the inventory filed, whichever sum is greater. The bond shall be forfeited and used for the benefit of any persons, firm, or corporation aggrieved by the action of the applicant, and is awarded a judgment as a result of a cause of action against the applicant.
(Prior Code, § II.5)