(a) Minimum Amount. The minimum amount of the deposit shall be three hundred dollars ($300.00). The deposit shall be paid at the time the permit is received, and the deposit shall be used to reimburse the City for the cost of any work and/or materials furnished by it in the event the permittee fails to restore the opening properly according to the specifications of this article. This City shall waive this requirement insofar as it pertains to a public utility company if such files with the City its corporate bond in a form satisfactory to the City Attorney, conditioned upon the payment to the City of all costs which would otherwise be covered by and paid out of such a deposit.
(b) Form. The deposit may be either in the form of a certified, treasurer's or cashier's check or in lawful money of the United States.
(c) Insufficient Deposit. If any deposit is less than sufficient to pay all costs, the permittee, shall, upon demand, pay to the City an amount equal to the deficiency. If the permittee fails or refuses to pay such deficiency, the City may institute an action to recover the same in any court of competent jurisdiction. Until such deficiency is paid in full, no additional permits shall be issued to such permittee.
(d) Yearly Deposit. Whenever any public utility, if it does not elect to file a corporate bond as provided in subsection (a) hereof, or municipal authority anticipates more than one street opening, sidewalk and curb opening or excavation, it shall deposit in an amount and form as above for the calendar year or part thereof to cover the cost of any and all work.
(e) Refund. Upon notification by the permittee that all work authorized by the permit has been completed, and after restoration of the opening, the City upon approval by the Engineer shall refund to the permittee his deposit less all costs incurred by the City in connection with the permit. In no event shall the permit fee be refunded.
(Ord. 528. Passed 5-5-81.)