Each licensee shall execute a bond to the city with corporate surety in the sum of one thousand dollars conditioned upon the faithful observance of all laws and ordinances of the city, and the honest performance of all duties required by this chapter or other ordinances and for the protection of persons dealing with such auctioneer against fraud, deception and imposition; such bond to be approved by the city attorney’s office and filed with the business license division. (Ord. 10/28/2003O-12 (part); Ord. 12-09-97C (part))