§ 6.88.050. Permit—Bond required.

The applicant for such permit shall also file with the metropolitan collections officer, at the same time the application is made, a bond in the penal sum of three thousand dollars, with a surety company authorized to do business in the state as surety, in the following form:

State of Tennessee,
Metropolitan Government of Nashville
  and Davidson County.

  Know All Men By These Presents:

  That we, _______, as principal, and ___________, as surety, as held and firmly bound unto the State of Tennessee in the penal sum of three thousand ($3,000.00) dollars, for the payment whereof will and truly to be made, we bind ourselves respectively and our heirs and administrators.

  The condition of this bond is such that, whereas under an ordinance of the Metropolitan Government of Nashville and Davidson County it is necessary, in order to lawfully conduct an auction sale where automobiles or jewelry are sold, to obtain a permit from the metropolitan collections officer so to do, and for the auction to be conducted as provided by the terms of said ordinance, and the undersigned principal intends to conduct an auction of (here state whether automobiles or jewelry) on the _______day of _______, 19___, in the Urban Services District of the Metropolitan Government of Nashville and Davidson County;

  Now, if said auction sale is conducted as provided by said ordinance, this obligation shall be null and void, but otherwise shall remain in full force and effect.

  It is expressly understood that this bond, while made payable to the State of Tennessee, is for the use and benefit of all persons suffering loss or damage by reason of the violation of said ordinance by the above named principal, and any person or persons purchasing at said auction sale, suffering loss or damage by reason of the violation of said ordinance, may maintain an action against the principal and the surety on this bond, to recover for such loss or damage.

  Witness our hands on this _______ day of _______, 19___.

_____
Principal

_____
Surety

Approved:

Metropolitan Collections Officer

(Prior code § 9-2-14)