A.   Amount: Except as noted in this chapter, each applicant, before being issued a permit, shall provide the city with an acceptable security (this may include a corporate surety bond, cash bond or irrevocable letter of credit, as determined by the city) in an amount equal to the cost of the proposed work to guarantee faithful performance of the work authorized by a permit granted pursuant to this chapter. The amount of the security required may be increased or decreased at the discretion of the city engineer. The form of the security and the entity issuing the security shall be subject to the approval of the city attorney. (1999 R.O. § 23-1-14; amd. 2008 Code)
   B.   Exception For Public Utilities: Public utilities franchised by the city shall not be required to file any security if such requirement is expressly waived in the franchise documents.
   C.   Conditions: The security required by this section shall be conditioned as follows:
      1.   The permittee shall fully comply with the requirements of the city ordinances and regulations, specifications and standards promulgated by the city relative to work in the public way, and respond to the city in damages for failure to conform therewith;
      2.   After work is commenced, the permittee shall proceed with diligence and expedition and shall promptly complete such work and restore the public way to construction specifications, so as not to obstruct the public place or travel thereon more than is reasonably necessary;
      3.   The permittee shall guarantee the materials and workmanship for a period of two (2) years from completion of such work, with reasonable wear and tear excepted; and
      4.   Unless authorized by the city engineer on the permit, all paving, resurfacing or replacement of street facilities on major or collector streets shall be done in conformance with the regulations contained herein within three (3) calendar days, and within seven (7) calendar days from the time the excavation commences on all other streets, except as provided for during excavation in winter or during weather conditions which do not allow paving according to engineering regulations. In winter, a temporary patch must be provided. In all excavations, restoration or pavement surfaces shall be made immediately after backfilling is completed or concrete is cured. If work is expected to exceed the above duration, the permittee shall submit a detailed construction schedule for approval. The schedule will address means and methods to minimize traffic disruption and complete the construction as soon as reasonably possible. (1999 R.O. § 23-1-14)