§ 92.03  PERFORMANCE BOND, PUBLIC LIABILITY INSURANCE REQUIRED.
   (A)   The city shall estimate the probable cost of repairing the street, right-of-way,  easement,  or highway;  and shall require the applicant to file a written bond in an amount sufficient to cover the cost, with two or more sufficient sureties, conditioned that the street, right-of-way, easement, or highway shall be restored in as good or better condition than it was before the excavation or alteration was made.  The bond shall be approved by the city.  If the applicant elects to do so, he or she may make a cash deposit of the sum as may have been fixed by the city in lieu of the written bond. The bond shall contain a provision for at least 15-days’ notice to the city in case of cancellation.
   (B)   The conditions of the bond required in division (A) shall not be considered to have been complied with until the city shall have accepted the street, highway, right-of-way, or easements as being restored in good condition.  In the event that the person making the opening shall fail to leave the highway, street, right-of-way, or easement in a good state of repair, satisfactory to the city, then the city shall call upon the sureties to pay for the cost of repairing the highway; provided however,  that in the event of a cash deposit instead of a bond, the city may proceed to have the street, other highway, right-of-way, or easement, put in good condition, paying for same out of the deposit made by him or her, and if there be any remainder of the deposit after paying for the work, the remainder shall be refunded to the person making the deposit.
   (C)   Before a permit may be issued hereunder, the applicant must comply with all provisions of this subchapter pertinent to the issuance of such a permit, including but not limited to § 92.07 below, if applicable.  Also before a permit may be issued, in addition to the performance bond required in division (A), the applicant must take out and maintain, at its own expense, comprehensive general liability insurance included but not limited to premises-operations and completed operations coverage, covering the obligations assumed by the applicant in not less than the following limits:
      (1)   General liability:  $2,000,000 each occurrence;  $2,000,000 aggregate.
      (2)   Property damages: $500,000 each occurrence; $500,000 aggregate.
   (D)   Any policy providing for the above-required insurance shall name the city as an additional named insured and shall contain a provision that the policy may not be cancelled, terminated or modified without 15-days’ written advance notice thereof to the city.
   (E)   Cancellation of insurance will automatically cause the suspension of the permit for 30 days unless reinstated insurance is furnished.    Suspended permits shall be automatically canceled at the end of 30 days.
   (F)   When the bond or deposit and insurance required by this section shall have been accepted by the city, and all other applicable provisions relevant to the granting of permits have been satisfied, the city shall issue a permit for the excavation set out in the application, and the applicant may then proceed with the work in the exact location named in its application, and in no other place.
(Ord. 880202, passed 2-2-1988; Ord. 891219, passed 12-19-1989)