(A) In order to ensure proper backfill and restoration of surface, the permittee shall deposit a surety bond or cash deposit with the Town Clerk payable to the municipality, except that a public utility operating or using any of the streets under a franchise from the municipality will not be required to furnish such bond, providing such franchise obligates the holder thereof to restore the streets and to hold the municipality harmless in the event of any injury to any person or damage to any property due to negligence of such holder in conducting excavation and restoration operations under such franchise. The required surety bond must be:
(1) With good and sufficient surety;
(2) By a surety company authorized to transact business in the state;
(3) Satisfactory to the Municipal Attorney in form and substance;
(4) Conditions upon the permittee’s compliance with this subchapter in order to secure and hold the municipality and its officers harmless against any and all claims, judgments or other costs arising from the excavation and other work covered by the excavation permit or for which the municipality, the governing body or any municipal office may be made liable by reason of any accident or injury to any person or property through the fault of the permittee arising out of failure to properly guard the excavation or any other negligence of the permittee; and
(5) Conditioned to fill up, restore and place in good and safe condition, as near as may be to its original condition, and to the satisfaction of the municipality, all opening and excavations made in streets, and to maintain any street where excavation is made in as good condition for the period of 36 months after the work shall be done, usual wear and tear excepted, as it was before the work shall have been done.
(B) The amount of the surety bond or cash deposit shall be established by Town Council and may be changed from time to time, but until the next change is enacted the amount of surety or cash deposit shall be $500 for excavations up to five feet in width that cross a street and shall be $10 per foot in length for excavations up to five feet in width that excavate along the direction of the street. For excavations in excess of five feet wide, the amount of the surety bond or cash deposit shall be determined by the Mayor and Town Council.
(Ord. 12, passed 5-3-1985)