A. No permit to make an excavation on any street, alley, or other public place shall be granted by the city engineer unless the applicant posts with the city engineer a cash deposit or surety bond to guarantee performance of the work and restoration of the city property as required in this chapter. The amount of the cash deposit shall be determined as follows:
1. Seventy-five cents for each square foot of area of proposed excavation in or under any type of pavement or surfacing material;
2. Fifteen cents for each square foot of area of proposed excavation which is not in or under pavement or surfacing of any kind;
3. The minimum deposit shall be twenty-five dollars and the maximum shall be one thousand dollars; provided, that if the maximum deposit is posted, it shall cover any number of permits the depositor may require while the deposit is maintained.
B. If the applicant elects to post a surety bond in lieu of the cash deposit, the bond shall name the city as obligee, shall be executed by the applicant as principal and by a corporation authorized and licensed so to do by the state as surety, and shall be in the principal sum of one thousand dollars. The bond shall be conditioned upon performance of all work and the restoration of all city property altered or damaged pursuant to any permit issued to the applicant under this chapter in the manner provided in this chapter. Any number of permits may be issued under the bond and the liability of the surety on any such bond may be terminated as to future acts or omissions only by the filing of a written notice thereof at least ten days before the effective date of such termination.
(Prior code § 12.04.100 (Ord. 496, 1960: Ord. 487 § 10, 1960))