(A) Prior to the issuance of any such permit, the applicant shall deposit with the City Treasurer, through the department, cash, a certified check, or a cashier's check in the amount fixed by the Director as necessary to reimburse the city for the costs of inspection and performing the work should the applicant fail to complete the work or pay the required inspection fees. In lieu of such deposit, the applicant may file with the city a faithful performance bond issued by a company authorized to act as a general surety in the state. In lieu of a deposit or surety bond for a specific permit, the applicant may, upon approval of the Director, annually file with the city such an approved surety bond in an amount to be determined by the Director sufficient to reimburse the city for the cost of performing any and all work described in permits issued to the applicant should the applicant fail to complete the work described in those permits or pay the required inspection fees. The Director may limit the amount of work to be performed at any one time by an applicant or require an additional bond.
(B) The City Treasurer is authorized to refund the unused amount of any cash, certified check, or cashier's check filed as a deposit with the city upon notice from the Director that the work has been completed or that the permit has been cancelled.
('61 Code, § 7-2.10) (Ord. 37 C.S., passed 12-4-62)