HomeMy WebLinkAboutORDINANCE NO 12 06 137Ytjyfiiffiv-J
STATE OF GEORGIA
COUNTY OF FULTON ORDINANCE NO.12-06-137
AN ORDINANCE TO AMEND CHAPTER 42.ARTICLE III.OF THE MILTON CITY
CODE TO REMOVE THE REQUIREMENT FOR PRECIOUS METALS DEALERS TO
OBTAIN AND MAINTAIN A LICENSE AND INDEMNITY BOND
BE IT ORDAINED by the City Councilof the City ofMilton,GA while ina regularlycalledcouncil
meeting on June 18,2012 at 6:00 p.m. as follows:
SECTION 1. That the Code of Ordinances of the City of Milton, Georgia, relating to the
requirements for obtaining and maintaining a precious metals dealer permit, is hereby amended by
deleting the following subsection 42-63(g).
"Each person shall furnish the City of Milton a license and indemnity bond
conditionedupon the said principalof said bond faithfully performingthe obligations
and duties set forth in this article, as such may be amended from time to time. The
purpose of this bond is to indemnify and save harmless the Milton City Council, its
officers and employees, on account of any judgments, claims, demands or losses by
reason of the issuance of the precious metals dealer permit to a permittee and to
provide a means for payment of losses caused by said permittee's violation of this
article for which said permittee principal has been held responsible for in a civil court
of competentjurisdiction to an owner or former owner of precious metals and items
covered under this article.The bond described herein shall be in the amount of
5100,000.00."
SECTION 2. All ordinances, parts of ordinances, or regulations in conflict herewith are
repealed.
SECTION 3. This Ordinance shall become effective upon its adoption.
ORDAINED this the 181'1 day ofJune,2012.
Attest:
Joe Lockwood,Mayor
Sudie AM Gordon,CifyClerk