No person shall move, transport or convey any building or other similar bulky or heavy object, including machinery, trucks and trailers, larger than eight feet eight inches in width, across or along any street, alley or other public way or place in the City, without first obtaining a permit therefor from the City. Such permit shall specify the route to be used in such movement and no person shall engage in such movement along a route other than that specified in the permit. No such permit shall be granted until the applicant posts a cash deposit in the amount of two hundred dollars ($200.00) and files a liability insurance policy as required by Section 1020.03. The deposit shall be used to pay for any damage to public or private property up to the amount thereof. Any balance shall be returned to the applicant upon completion of the move.