Before a license can be granted, the person seeking a license as
a pawnbroker must execute and deliver a bond to the City Clerk to
be approved by the Clerk and City Attorney in the penal sum of $5,000
with a corporate surety authorized by the laws of the state to write
surety bonds therein and conditioned for the conduct of such pawnbroker
business according to the law and for the true and faithful observance
of applicable provisions of this Code and ordinances pertaining thereto;
such bond shall be for the benefit of the City and of each and every
person damaged by breach of any condition thereof.
