No permit shall be issued unless the applicant therefor shall have complied with the following requirements:
(a) Application. File an application with the Division of Building, Engineering and Inspection, which in addition to any information which may be requested, shall contain (1) the location where the work is to be performed, (2) the name and address of the owner, and (3) the name of the person doing the work.
(b) Insurance policy. Deposit or show evidence of a public liability insurance policy, insuring the City against any loss or damage to persons or property resulting from the work being done, the policy to have minimum limits of twenty-five thousand dollars ($25,000) and fifty thousand dollars ($50,000) per accident for bodily injury or wrongful death, in form acceptable to the Director of Law and in maximum limits acceptable to the Division on the basis of work to be done and the risk involved.
(c) Deposit. Deposit with the Division such sum as may be deemed necessary on the basis of the work to be done and the risk involved.
(d) Inspection fee. Pay to the Division an inspection fee of twenty dollars ($20.00) per inspection.
The deposit may be held and used by the City to cover costs of maintaining, reconditioning and repaving. A portion of the deposit which is not used shall be returned to the permittee when the work is completed to the satisfaction of the Division of Building, Engineering and Inspection.