(1) The Chief Financial Officer, whenever he deems it necessary to insure compliance with this ordinance, may require any lodging tax collector subject thereto to deposit with him such security in the form of cash, bond, or other security as the Chief Financial Officer may determine. The amount of the security shall be fixed by the Chief Financial Officer but shall not be greater than twice the lodging tax collector’s estimated average monthly liability for the period for which he files returns, determined in such manner as the Chief Financial Officer deems proper, or Five Thousand Dollars ($5,000.00), whichever amount is less. The amount of the security may be increased or decreased by the Chief Financial Officer subject to the limitations herein provided. The lodging tax collector has a right to appeal to the City Council any decision of the Chief Financial Officer made under this section.

(2) Any time within three years after any tax or any amount of tax required to be collected becomes due and payable or at any time within three years after any determination becomes final, the Chief Financial Officer may bring an action in the courts of this State, or any other state, or of the United States in the name of the City of Medford to collect the amount delinquent together with penalties and interest.