Any person, firm or corporation desiring to construct sidewalks, driveway approaches or make curb cuts on public rights of way in the city shall file with the city clerk a surety bond in the penal sum of ten thousand dollars ($10,000.00) conditioned on the faithful performance of all the provisions of this code, such surety to be a company authorized to transact business as a surety in the state of Iowa. (2008 Code § 27-82)