A deposit or bond shall be required of all non-franchised utilities, non-gross receipt tax utilities and for all contractors in an amount sufficient to cover any and all costs that may be incurred by the city in making repairs or restoration to its rights-of-way or property if the satisfactory repair or restoration is not made by the applicant. The license and permit bond, as determined by the city, shall accompany the application. The bond may be made by depositing cash with the City Clerk or by filing with the City Clerk a license and permit bond in the principal sum as determined by the city, executed by an insurance or indemnity company authorized to do business in the state, the bond shall be running to the city for the benefit of the city, conditioned that the applicant will comply with this article and other ordinances of the city and with terms and conditions as set forth in the permit. The minimum amount of deposit or bond shall be $500 for each pavement cut, $100 for each road cut and $100 for each bore made under a paved surface base course. The license and permit bond shall be written to expire six months after work is completed or the cash shall be left on deposit with the City Clerk for six months after work is completed to allow for an evaluation period of the repaired area’s ability to withstand traffic in weather conditions.
(`90 Code, § 19-94) (Ord. 2714, passed 1-18-83)