Before a permit required by Section 1024.01 is issued, the applicant therefor shall deposit with the Clerk-Treasurer a bond with a good and sufficient surety, to the approval of the Solicitor, in the sum of one thousand dollars ($1,000), conditioned upon securing and holding harmless the Village against any and all damage arising from any opening or excavation made in the streets, public ways or public grounds of the Village under authority of such permit and further conditioned upon filling up and placing in good and safe condition, to the satisfaction of the Clerk-Treasurer, all openings and excavations so made in the streets, public ways and public grounds of the Village, but such bond shall not be held for the replacement or repair of the pavement, which work shall be done by the Village as hereinafter specified. An annual bond may be given under this section on May 1 of each year, conditioned as above as to all openings and excavations made in the streets, public ways and public places by the principal on such bond during the term of one year from such date.
(Ord. 68-23. Passed 6-13-68.)