§ 51.087  BOND.
   (A)   Whenever any application for the permit required by this subchapter is approved, the applicant shall give a bond, valid for a period of one year, in a sum as fixed by the Board of Public Works and Safety in an amount to be governed by the character of the work to be done, but not less than $15,000, guaranteeing that the place where the work is to be done shall be restored to a good condition and in the manner provided for by this subchapter, and guaranteeing that the permit holder shall keep the same in first-class condition for a period of one year after the date of the completion and acceptance of the work. The bond shall also be conditioned to hold the city harmless from all damages to person or property which may arise from neglect, or want of care on the part of such principal or his or her employees in the prosecution of any such work, and that such principal will comply with all ordinances, rules and regulations relating to such work and the manner in which it is to be done. The bond shall be underwritten by a surety company approved by the Board of Public Works and Safety, and shall be delivered by the applicant to the Utilities Superintendent or his or her designee. No permit shall be issued by the Utilities Superintendent until such approved bond has been filed with him or her.
   (B)   An annual bond may be given any person having a large volume of excavation work to do. Application for permission to give annual bonds shall be made to the Board of Public Works and Safety and the application shall state the particular kind of trenching, digging or excavating which the applicant expects to do. Such application shall also pledge conformity to all ordinances on the subject, set forth the willingness and ability of the applicant to execute the bond required by this section in such cases, and shall be signed by the name of such person under which shall be written the street and number of the applicant’s place of business or residence. If permission is given by the Board of Public Works and Safety for the applicant to give an annual bond, thereupon the applicant shall execute to the city a bond with surety to be approved by the Mayor in a sum not less than $50,000 guaranteeing that the place where the work is to be done shall be restored to a good condition and in the manner provided for by this subchapter, and guaranteeing that the permit holder shall keep the same in first-class condition for a period of one year after the date of the completion and acceptance of the work. The bond shall also be conditioned to hold the city harmless from all damages to person or property which may arise from neglect, or want of care on the part of such principal or his or her employees in the prosecution of any such work, and that such principal will comply with all ordinances, rules and regulations relating to such work and the manner in which it is to be done.
(Ord. 2002-0303, passed 3-11-2002; Ord. 5-2014-1, passed 5-20-2014)  Penalty, see § 51.999