Each applicant shall submit and maintain with the Department a bond, cash deposit, or other security acceptable to the Department securing the faithful performance of the obligations of the owner and its agent under any permit(s) to excavate and the compliance with all terms and conditions of this Article (the "deposit"). The deposit shall be in the sum of $25,000 in favor of the "Department of Public Works, City and County of San Francisco." Utility and municipal excavators and other frequent applicants may submit a single deposit for multiple excavations so long as a constant balance of $25,000 is maintained on file with the Department. If the Director has deducted from such a deposit pursuant to Section 2.4.46(c), the utility or municipal excavator or other frequent applicant must restore the full amount of the deposit prior to the Department's issuance of a subsequent permit.
(Added by Ord. 341-98, App. 11/13/98; amended by Ord. 33-02, File No. 020051, App. 3/28/2002)