A deposit of one thousand dollars ($1,000) shall be made by the applicant to cover the cost including municipal engineering and inspection expenses incurred to replace any pavement removed and restore the street, alley, or roadway to its original condition. Deposit or portion of deposit will be returned to permit holder no earlier than six months after determination of the completion of the work by the Municipal Engineers. In lieu of the cash deposit, any utility company may file with the Municipal Clerk an approved performance bond for $5,000 covering any number of applications for street openings, and being conditioned that the utility company shall restore the street, alley, or roadway pavement to its original condition.
(1980 Code 50.24)