A surety bond, deposit or other financial guarantee may be required by the village to ensure that the street will be repaired according to the specifications and methods set out in this subchapter. The terms and amount of such surety bond, deposit or financial guarantee shall be determined by the village. If required by the village, the applicant shall post the required surety bond, deposit or financial guarantee as an additional condition to the issuance of a permit to excavate, cut or bore in the public right-of-way. The failure to post this bond, deposit or financial guarantee in a timely manner shall be grounds for denying a permit.
(Ord. 2018-17, passed 12-3-2018)