All applicants for the permit required by Section 1010.01 shall, at the time the application for the permit is made, deposit with the Treasurer a sum equal to the cost of repairing any opening, excavation, removal of a portion of, or disturbance of the surface of any public street, alley or other ground of the City, as estimated by the Safety-Service Director, or five hundred dollars ($500.00), whichever is less, in order to insure the repair and restoration of the street, alley or other ground.
(Ord. 1727. Passed 11-24-69.)