(A) Whenever the work or any part thereof covered by a permit required by this division is to be done by the city, the permittee shall pay into the treasury of the city a sum equal to the cost of the work to be done, as determined by a resolution of the city council.
(B) Such amount so deposited shall compensate the city for cutting, refilling, tamping and repaving such portion of the pavement. If the actual cost to the city of such cutting, refilling, tamping or repaving shall exceed the sum deposited, the permittee shall pay to the city the difference in cost upon demand being made thereof.
(1964 Code, § 19-42)