Each business license applicant under the provision of this article shall file a bond in the penal sum of one thousand dollars ($1,000.00) with two (2) or more sureties to be approved by the city attorney’s office. The bond shall be made payable to the city and shall be conditioned that the person applying for the license will comply with all laws and ordinances regulating employment agencies and shall pay all damages occasioned to any person by reason of any misstatement, misrepresentation, fraud or deceit of the business licensee or by any other violation of law or ordinances regulating employment agencies. If, at any time in the opinion of the city attorney’s office, the sureties or any of them shall become irresponsible, the business licensee shall, upon notice from the city treasurer, give a new bond. Failure to give a new bond within ten (10) days after such notice shall operate as a revocation of such license, and the certificate of license shall be immediately returned to the city. (Ord. 2002-02-002, 2-7-2002)