In those instances where a utility company makes cuts into the improved streets, sidewalks and curbs of the village, for general maintenance and/or new construction purposes, such company must post an annual performance bond, in the amount of $10,000, with the Village Administrator prior to engaging in any such cutting. If the cost of repair and/or replacement of the affected areas exceeds the amount of the annual bond, a separate bond equal to the cost of repair will be required prior to engaging in any such activities.
(Res. 1968, passed 9-21-92)