(a) Before an excavation permit is issued pursuant to this article, the applicant therefor shall file with the Recorder a surety bond, in such amount not less than $100.00 payable to the Town; provided, that utility companies within the meaning of Section 909.01 shall give bond in an amount not less than $500.00. The required surety bond shall be:
(1) With good and sufficient surety.
(2) By a surety company authorized to transact business in the State.
(3) Satisfactory to the Town Attorney in form and substance.
(4) Conditioned upon the permittee’s compliance with this article and to secure and hold the Town and its officers harmless against any and all claims, judgments, decrees or other costs arising from the excavation and other work covered by the excavation permit or for which the Town, the Town Council, or any Town officer may be made liable by reason of any accident or injury to persons or property through the fault of the permittee either in not properly guarding the excavation or for any other injury resulting from the negligence of the permittee, and further conditioned to fill up, restore and place in good and safe condition as near as may be to its original condition, and to the satisfaction of the Town Manager, all openings and excavations made in streets, sidewalks and public places, and to maintain any street, sidewalk or public place where excavation is made in as good condition for the period of twenty-four months after such work was done, usual wear and tear excepted, as it was before such work was done. Any settlement of the surface within such one year period shall be deemed conclusive evidence of defective backfilling by the permittee. Nothing herein contained shall be construed to require the permittee to maintain any repairs to pavement made by the Town if such repairs should prove defective.
(b) Recovery on such bonds for any injury or accident shall not exhaust the bond but it shall in its entirety cover any or all future accidents or injuries during the excavation work for which it is given. In the event of any suit or claim against the Town by reason of the negligence or default of the permittee, upon the Town giving written notice to the permittee of such suit or claim, any final judgment against the Town requiring it to pay for such damage shall be conclusive upon the permittee and his surety. An annual bond may be given under this section which shall remain in force for one year, conditioned as stated herein in the amount specified herein and in other respects as specified herein but applicable as to all excavation work in streets, sidewalks and public places by the principal in such bond during the term of one year from such date.
(c) In lieu of a surety bond as herein provided, and except in the case of any public utility company, the Town Manager may, in the exercise of sound discretion, require the applicant to deposit with the Treasurer a sum sufficient to cover the estimated cost of backfilling and restoration of the surface, which deposit shall be refunded to the permittee if restoration work done by him is satisfactory to the Town Manager.
(1973 Code §22-15; Passed 5-4-23.)