(A)   No permit for excavating in any street or highway in the town shall be granted until the applicant files with the Town Engineer evidence of general liability insurance coverage, including property damage, of not less than $1,000,000 per occurrence/$2,000,000 in the aggregate and a performance bond in the minimum amount of $10,000. The amount of such performance bond may be increased on larger projects as required by the Town Engineer and shall require that the applicant fill all excavations and restore the street or highway to a condition as approved by the Town Engineer as hereinafter specified. The insurance coverage and performance bond shall further require that the applicant save and indemnify the town from any and all liability, damages and costs that may in any manner be incurred by the applicant's excavation work and the backfilling thereof, as well as the applicant's replacement of the paving thereafter. All performance bonds required by this chapter shall be for the period of the calendar year, and renewals shall be filed with the Town Engineer before January 1 of each year. All insurance coverage shall be for the expected duration of the excavation, backfilling and replacement paving work, plus for such additional time as required by the Town Engineer, which shall be no less than 90 days after completion of the applicant's work.
   (B)   Contractors and public service corporations may dispense with the filing of a separate bond for each excavation by filing annually with the Town Engineer the proper evidence of insurance coverage hereinbefore provided for, conditioned, however, that an application must be made for a permit for each separate excavation. Evidence of insurance coverage and performance bond satisfactory to the Town Engineer shall be presented, and the performance bond shall be in the amount approved by the Town Engineer.
('66 Code, § 22-2; Am. Ord. 432, passed 2-5-01; Am. Ord. 589, passed 6-7-10)