No person shall engage in the calling of an auctioneer in the city, unless, in addition to the permit required by Section 6.12.080, he shall have filed with the city clerk a bond conditioned for the faithful performance of his duties, and of all the provisions of this chapter and all other applicable ordinances of the city, which bond shall be in the principal amount of five thousand dollars, payable to the city, and shall be signed by two or more sureties, each of whom must be worth the sum, or by a surety company. The bond shall be approved by the city manager and the city attorney. For every violation of any of the provisions of this chapter pertaining to the calling of auctioneer, or to auctions, in addition to such penalty as may be otherwise provided for such violation, such auctioneer shall forfeit to the city the sum of two hundred fifty dollars, which amount shall be recoverable upon the bond. (Ord. 353 NCS §3.2; prior code §5.10.)