(A) No person shall excavate in or tunnel under any street in the village without first securing a permit at least 24 hours in advance of such work from the Building Inspector.
(B) The applicant for such permit shall deposit, in cash or bond, with the Village Clerk such amount as determined by the Superintendent of Public Works necessary, as security for the repair, of the street. The deposit shall be held by the Clerk until the Chief of Police or Superintendent of Public Works certifies to him or her that the street has been properly repaired.
(C) The person securing such permit shall restore the surface of the street to its original condition under such directions as the village may issue within five days after completing the work for which the excavation was made. Upon restoration of the surface to its former condition, the Village Clerk shall return the cash deposit or bond to the permit holder less $25 which shall be retained by the village as a permit fee. If the permit holder does not restore the street to its original condition, the village shall have such work done and retain the cost thereof out of the deposit.
(D) Any public utility or other person may deposit a standing bond with the village to insure the proper repair of village streets whenever work is done in the village, but shall secure a permit as required by this section.