(A) Any person desiring to excavate or auger under any street or alley within the Village for any purpose shall, prior to the issuance of the permit required by § 96.060, execute a bond approved by the Village President, indemnifying the Village against all damage which may be incurred by reason of the permission having been granted and in addition thereto, shall deposit in currency, bank draft or certified check a sum to be determined as follows:
(1) Excavations. Paved street or alley, not less than $1,000.
(2) Auguring. Paved street or alley, not less than $500.
(3) Excavations or auguring. Unpaved street or alley, not less than $300.
(B) No permit required by § 96.060 shall be issued until the requirements of division (A) of this section have been complied with.
(C) The exact amount necessary for any particular project shall be determined by the President and Board of Trustees, based upon the estimate of the Village Engineer of the amount necessary to restore the street or alley to its original condition and shall be deposited with the Village before commencement of the work.
('73 Code, § 29-65)