The Service Director, upon receipt of a properly completed application, shall determine the amount of the deposit to be made by the permittee in accordance with a schedule of charges provided by § 1020.19. However, the minimum amount of the deposit shall be fifty dollars ($50.00). The deposit shall be paid at the time the permit is received, and the deposit shall be used to reimburse the municipality for the cost of any work and/or materials furnished by it in connection with the work authorized by the permit, to cover all necessary inspections of such work and for any other purpose set forth in this chapter. The municipality may elect to waive this requirement insofar as it pertains to a public utility company if such company files with the municipality its corporate bond in a form satisfactory to the Municipal Attorney, conditioned upon the payment to the municipality of all costs which would otherwise be covered by and paid out of such a deposit. In the event any public utility company elects to file such a bond, the municipality shall bill such company monthly for such costs as they accrue.
(1974 Code, § 903.15)