Every applicant, not a resident of the city, or who being a resident of the city represents a firm whose principal place of business is located outside of the state, shall file with the city clerk a surety bond, running to the city an amount of one thousand dollars, with surety acceptable to and approved by the city clerk, conditioned that the applicant shall comply fully with all the provisions of the ordinances of the city and the statutes of the state regulating and concerning the business of transient vendor or solicitor and guaranteeing to any citizen of the city that all money paid as a down payment will be accounted to and applied according to the representation of the solicitor and, further, guaranteeing any citizen of the city doing business with such solicitor, that the property purchased will be delivered according to the representations of such solicitor. Action on this bond may be brought in the name of the city to the use or benefit of the aggrieved persons. (Prior code § 6-8).