Each permit for opening any public right of way shall be confined to a single project and may be issued by the Director of Public Service. The permit application shall be made on a form prescribed by the Director, giving the exact location of the proposed project, the type of existing pavement, the area and depth to be excavated, and such other facts as may be required. The permit shall be issued only after a cash deposit or other approved bond, sufficient to cover the total anticipated cost of restoration of the excavation site, has been deposited with the Director, conditioned upon prompt and satisfactory restoration of all pavement surfaces disturbed.