Before a permit to move or wreck a building is issued, the owner or applicant shall deposit with the Finance Director a sum of money as set forth in Section 1311.10 to indemnify the City against any claim of damage to public or private property and to reimburse the City for any expense incurred in connection with such moving or wrecking and to guarantee that all of the provisions of this chapter are complied with. In the event any claim of damage to public or private property is allowed by the City or any expense is incurred by the City in connection with such moving or wrecking, the City shall be authorized to reimburse itself out of such cash deposit. Furthermore, if the owner or applicant fails to perform the duties and obligations of this chapter within the time and in the manner prescribed herein, the City may proceed to complete the work and charge the cost thereof to the cash deposit. After all work is completed in accordance with the provisions of this chapter and after deducting any expenses incurred by the City or any claims allowed by the City, any moneys remaining shall be refunded to the party making the deposit. (Ord. 1999-96. Passed 8-11-99.)