(A) The Superintendent of Streets may require, as a condition of the granting of any permit under this chapter, that the applicant deposit with the Town Clerk a completion and maintenance bond, in an amount to be fixed by the Superintendent of Streets, not exceeding the sum of $50,000, inuring to the benefit of the town and of the general public, guaranteeing that the applicant will faithfully perform all of the conditions and requirements specified in the permit, and will maintain the completed work in good condition for a period of two years from date of completion.
(B) The bond shall be executed by sureties approved by the Town Clerk as being sufficient in number and in financial responsibility. The Superintendent of Streets may also require, as a condition to the granting of any such permit, that the applicant deposit with the Town Clerk a certificate of a responsible insurance company, showing that the applicant is insured in an amount not less than a sum certain, to be fixed by the Superintendent of Streets, not to exceed $100,000, against any loss or damage to persons or property arising directly or indirectly from the operations of the applicant or any person acting in his or her behalf in carrying on any operation connected directly or indirectly with the making of the excavation or fill for which the permit is issued.
(Prior Code, § 12.20.110)