The governing body, in its discretion, may require a deposit of security by the successful bidder for a concession within ten days after notice of the acceptance of the bid. If such deposit of security is not so furnished, the concession may be let to the next highest bidder, and if there is no other bidder, to some other party. Such deposit of security must be approved and accepted before the renting, leasing, or licensing of such public property shall become effective. Vending, service, and merchandising machines shall be permitted in public buildings only upon payment of an adequate compensation for such privilege. All moneys received under the provisions of this section and section 48 -09-01 shall be turned into the general fund of the state, county, or municipality, as the case may be.
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