(a) Required; Approval. No permit required under this Title Two of Part Ten - the Streets, Utilities and Public Services Code shall be issued unless and until the applicant therefor files a cash or surety bond with the Village Clerk. The amount of the bond shall be determined by the Village Engineer, who shall take into consideration, but not be limited to, the type of work being done and the estimated cost of the repairs. The bond, with or without surety, shall be conditioned to indemnify the Village for any loss, damage, liability or expense, including reasonable attorneys' fees, that may result or accrue from or because of the making, existence or manner of guarding or constructing any opening, excavation or tunnel.
Upon receipt of the bond, the Village Manager shall send written notice to the President and the Board of Trustees indicating the type, amount and purpose of the bond. Five days after such notice has been so transmitted, the Manager may approve the bond. In all cases where the President and the Board have not indicated otherwise, the Manager shall be the final approving authority in the Village.
(Ord. 397. Passed 6-28-73; 1976 Code § 20-5.)
(b) Exceptions. The Board may exempt any party from the requirements of subsection (a) hereof, provided that such exemption is made by a resolution duly approved at a regular Board meeting.
(Ord. 397. Passed 6-28-73; 1976 Code § 20-6.)
(c) Release of Bond. Upon completion of the work designated under a permit issued under this Title Two of Part Ten - the Streets, Utilities and Public Services Code, the Village Engineer, after inspection of the site, shall certify to the Village Clerk that the work has been completed in a satisfactory manner and in conformity with Village standards. Upon receipt of such certification, the Clerk and/or the Manager shall cause the release of any bond furnished in connection with the work under subsection (a) hereof.
(Ord. 397. Passed 6-28-73; 1976 Code § 20-7.)