(A)   At the time of making the request under the provisions of § 96.47, the person desiring to make any opening or excavation shall also file a bond payable to the city in a sum of $5,000, or in such other amount as the Board of Public Works and Safety may designate.  Such bond shall be filed with the Clerk- Treasurer and shall be conditioned to save the city harmless from any loss, cost or damage by reason of such proposed work, and that the same shall be done in all respects in conformity with the requirements of this subchapter and any provisions of this code or other ordinances of the city regulating the same; provided, that a single or continuing bond may be given to embrace all work of the petitioner for a period of time between the date of the execution of the same and January first, which bond shall be in the penal sum of $5,000; provided, however, that any public utility operating under the jurisdiction of the Public Service Commission of the state may give an indemnifying agreement in lieu of such bond.
   (B)   The Board of Public Works and Safety may, by resolution duly passed by a majority of such Board, authorize and empower its designated representative to determine the amount of the bond required by this section.
(`94 Code, § 95.48)