The Division shall and it is hereby authorized to establish, subject to the approval and adoption by the City Council, a schedule of charges from which will be computed the amounts of deposits or bonds required under § 9.08.330 A. of this Subchapter and to change such schedule from time to time, subject to the approval of the City Council, in order to conform to the prevailing prices for materials and labor. The schedule shall be open to public inspection in the office of the Division, upon the demand of any person interested therein.
('65 Code, § 30-29.1)