(A) Before an excavation permit is issued under §§ 93.050 et seq., the applicant shall deposit with the City Clerk/Treasurer a surety bond in the amount of $500 payable to the city. The required bond must be:
(1) With good and sufficient surety;
(2) By a surety company authorized to transact business in the state;
(3) Satisfactory to the City Attorney in form and substance; and
(4) Conditioned upon the permittee’s compliance with §§ 93.030 et seq., 93.050 et seq., 93.070 et seq., 93.090 et seq., and 93.105 et seq. and to secure and hold the city and its officers harmless against any and all claims, judgments, or other costs arising from the excavation and other work covered by the excavation permit or for which the city, the City Commission, or any city officer may be made liable by reason of any accident or injury to persons or property through the fault of the permittee either in not properly guarding the excavation or for any other injury resulting from the negligence of the permittee, and further conditioned to fill up, restore, and place in good and safe condition as near as may be to its original condition, and to the satisfaction of the Street Superintendent, all openings and excavations made in streets, and to maintain any street where excavation is made in as good condition for the period of 24 months after the work shall have been done, usual wear and tear excepted, as it was in before the work shall have been done. Any settlement of the surface within the 2-year period shall be deemed conclusive evidence of defective backfilling by the permittee.
(B) Nothing herein contained shall be construed to require the permittee to maintain any repairs to pavement made by the city, if the repairs should prove defective. Recovery on the bond for any injury or accident shall not exhaust the bond, but it shall in its entirety cover any or all future accidents or injuries during the excavation work for which it is given. In the event of any suit or claim against the city by reason of the negligence or default of the permittee, upon the city giving written notice to the permittee of the suit or claim, any final judgment against the city requiring it to pay for the damage shall be conclusive upon the permittee and his or her surety. An annual bond may be given under this provision, which shall remain in force for 1 year conditioned as above, in the amount specified above and in other respects as specified above, but applicable as to all excavation work in streets by the principal of the bond during the term of 1 year from the date.
(1981 Code, § 24-63)