Every applicant for a permit and license under this chapter who is not a resident of the City, or who is a resident of the City but represents a firm whose principal place of business is located outside the State, shall file with the City Clerk a surety bond running to the City in the amount of one thousand dollars ($1,000), with surety acceptable to and approved by the Mayor, conditioned that the applicant shall comply fully with all ordinances of the City and statutes of the State regulating and concerning the business of solicitor and guaranteeing to any resident of the City that all money paid as a down payment will be accounted for and applied according to the representations of the solicitor, and further guaranteeing to any resident doing business with the solicitor that the property purchased will be delivered according to the representations of the solicitor. Action on such bond may be brought in the name of the City to the use or benefit of the aggrieved person.
(1979 Code Sec. 5.54.070)