Each municipal judge, in addition to any security required by law to be given for the performance of his official duties, shall[,] before entering upon the duties of office, give a bond to the city in the penal sum of not less than five thousand dollars with such sureties that may be imposed by the city clerk conditioned for the faithful performance of the duties of the municipal judge within and for the city, and for payment to the city of all moneys collected or received by such judge which by the provisions of the general laws of the state or of this charter, he shall be required to pay into the treasury of said city. The premium for said bonds shall be paid for from the general fund of the city.