Any person, firm or corporation making an application for excavations or a street cut shall, at the time and place of filing of the application and before a permit is issued, file with the City Recorder a bond executed by a surety company authorized to transact surety business in this state, or by 1 or more sufficient personal sureties approved by the City Administrator. A personal surety must be a resident of this state. The bond shall be for the security and benefit of the city and shall be conditioned upon the applicant faithfully performing the excavation or street cut work in a careful, good and workmanlike manner to the satisfaction of the Superintendent of Public Works and within the time limit as prescribed by the permit. The amount of the bond shall be set by the City Administrator, but in no event shall it be less than $1,000. In setting the amount of the bond, the City Administrator shall consider the nature and extent of the work to be done, the location of the street, usual traffic, kind and use of adjoining property, and probable costs to the city for replacement and restoration. The bond shall remain in force until 12 months after substantial completion of the work as determined by the city.
(Ord. 1035, passed 11-3-1999)