Any peddler, solicitor or itinerant merchant, before any license is issued to him pursuant to this chapter, shall file with the city clerk a good and sufficient bond in the sum of one thousand dollars ($1,000.00) payable to the city, executed by two (2) or more good and sufficient sureties or by a surety company authorized to become surety on such bonds in the state, or in lieu thereof, shall file a cash deposit of one thousand dollars ($1,000.00) with the city clerk. Such bond or cash deposit shall be condition that the whole or any part of such sum of one thousand dollars ($1,000.00) shall be paid to any person failing to receive a delivery of the goods ordered or services to be performed in accordance with the terms of an order given, for the amount such person has advanced as payment in whole or in part of any such order, and such bond or cash deposit shall be conditioned further that any person aggrieved by the action of any such person shall have a right of action against such bond for the recovery of money or damages or both. Such bond shall be retained by the city for a period of ninety (90) days after the expiration of the license granted at the time of filing of such bond. (Ord. 2004-10, 11-30-2004)