At the time of filing and submission of a street cut permit, the applicant shall file a performance bond as follows:
(A) For an individual, partnership, association or corporation, other than a public utility, a cash bond in the amount of $500 shall be deposited with the Clerk-Treasurer;
(B) For a public utility, a performance bond from a reputable bonding company in the amount of $10,000 shall be supplied to the Clerk-Treasurer with the application, which shall be in full force and effect for 1 year and renewable annually;
(C) Any cash bond filed shall be returned to the applicant following reclamation of the street in compliance with this subchapter and to the satisfaction of the Street Department Supervisor. If reclamation is not so completed, the Clerk-Treasurer shall retain the cash bond; and
(D) If a public utility which obtained a street cut permit does not perform proper reclamation of the street, the city may seek relief from that utility's bonding company and perform the necessary repairs and reclamation itself.
(1981 Code, § 95.28) (Ord. 14-1981, passed 9-28-1981)