Any deposit or bond made pursuant to this Subchapter shall remain in effect and shall be held by the City for a period of one year after the work is completed; provided, however that when in the opinion of the City Engineer the permittee's work is of such a nature that the damages, if any, may be immediately determined, the deposit may be refunded or the bond may be cancelled when the work is completed or at any time within one year thereafter, subject to the condition that before such deposit is refunded or such bond cancelled, there first shall have been paid to the City an amount sufficient to cover the City's cost for inspection and other incidental expenses.
('65 Code, § 30-31)