Except as noted in this chapter, each applicant, before being issued a permit, shall provide the city with an acceptable corporate surety bond of fifteen thousand dollars ($15,000.00) to guarantee faithful performance of the work authorized by a permit granted pursuant to this chapter, and compliance by such applicant with the terms and conditions of the permit, applicable city ordinances, and the regulations, specifications and standards promulgated by the city relative to work in the public way. The amount of the bond required may be increased or decreased in the discretion of the city engineer whenever it appears that the amount and cost of the work to be performed, and not satisfactorily completed, may vary from the amount of bond otherwise required under this chapter. (Ord. 46-01 § 1, 2001: Ord. 70-99 § 1, 1999)