No permit to dig or excavate any part of the improved portion of a street or alley within the municipality shall be granted by the Village Administrator, until the applicant for such permit has deposited with the Village a sum deemed sufficient by the Village Administrator to secure the proper repair or replacement of the street or alley. Said sum shall be determined by the Village Administrator, but shall not be less than one thousand dollars ($1,000) for a street or five hundred dollars ($500.00) for an alley. The sum so deposited shall be returned to the applicant upon repair or replacement of the street or alley to the satisfaction of the Village Administrator. (Ord. 3300. Passed 3-19-07.)