(a) All excavations for building sewer installation or connection shall be adequately guarded with barricades and lights so as to protect the public from hazard. Streets, sidewalks, parkways and other public property disturbed in the course of the work shall be restored in manner satisfactory to the village.
(b) At the time of issuance of a sewer permit or at any time there after, the village may require a sewer permit applicant to deposit with the village such amounts equal to the estimated cost of restoration of the public property to be disturbed. Upon satisfactory completion of such restoration of public property, the village shall return such deposited amounts to the applicant.