(A) Where it is probable that more than one permit will be desired, or that an applicant shall be periodically using public places, the applicant may of his own volition, or the Director of Public Works may require the applicant to post a surety bond of sufficient amount to cover the accumulated cost or risk involved at any certain time in a calendar year for a number of permits outstanding as determined by the Director of Public Works, said bond to be in force during the period of all outstanding permits, but in no case for less than one year. The bond shall be approved as to form by the City Attorney, conditioned to assume all of the requirements provided in § 15.24.040 in relation to a cash indemnity deposit.
(B) However, if at any time any applicant applies for a permit to use a public place, and in the opinion of the Director of Public Works the work or risk involved in the application shall, together with other permits outstanding in the name of the applicant, exceed the amount of the presently posted surety bond, the applicant may be required to post an additional or separate surety bond to cover the additional risk or work involved prior to the issuance of any new permits. The bond shall remain in force during the period of all outstanding permits, but in no case for less than one year.
(C) In addition, the Director of Public Works may require any permittee to post a surety bond in the calendar year following the period of a permit when the extent of possible damage to a public place has not been completely determined.