5.07.120 - Transient Auction House Bond Required.

The applicant for a Transient Auction House license shall file with the City recorder of South Salt Lake City a corporate surety bond acceptable to and approved by the City Attorney in the sum of ten thousand dollars ($10,000.00) and shall indemnify and run to South Salt Lake City and any person injured or damaged through dealing with the licensee, or their Employees or agents and be in full force and effect for the year in which they obtain a license. Any surety bond shall be conditioned on the licensee (1) fully complying with all ordinances of South Salt Lake City and statutes of the state of Utah regulating and concerning Auctions and Auctioneers; (2) rendering true and strict accounts of all auction sales to any Person or Persons employing the Auctioneer to make the same; (3) will not commit any fraud, deceit, or make any material misrepresentations of fact with reference to property or bidders or purchasers of property from any Auction sale conducted under the license and will pay all damages which may be sustained by any person by reason of any fraud, deceit, negligence, or wrongful act on the part of the licensee, his agents, or Employees and the conduct of Auctioneer in the exercise of the call of Auctioneer.

(Ord. No. 2020-02, § II(Exh. A), 1-8-2020)