(A) No permit for any work, construction, demolition or excavation on city-owned property shall be issued by the city unless the person applying therefor or the contractor shall have filed with the Zoning Administrator a performance guarantee. Said guarantee shall be a minimum of $1,000. When, in the opinion of the Public Works Director, the excavation is sufficiently hazardous to require a higher guarantee, a maximum of $10,000 is therefore required. Said guarantee shall be in the form of cash, letter of credit from a bank doing business in the State of Illinois, or certificate of deposit. If, in the opinion of the Public Works Director, an excavation requires a performance guarantee more than $10,000, it first must be approved by the City Council before a permit can be issued.
(B) Said performance guarantee shall be received by the Zoning Administrator, conditioned upon the applicant or contractors completing the excavation, drilling, boring, construction or excavation in a proper and workmanlike manner and indemnifying and saving the city harmless for any and all damage to any property of the applicant or to the property of the city or the property of any third party from failure to restore any road, ditch, easement, pavement or portion thereof damaged during the construction, demolition or excavation so as to ensure that such property of the city or such property of the applicant, together with such road, ditch, easement, pavement or portion thereof damaged are left in as good condition as the applicant or contractor found them. Only the City Council may waive the performance guarantee.
(1993 Code, § 33-4-4) (Ord. 529, passed 5-6-1974; Am. Ord. 582, passed 3-21-1977; Am. Ord. 762, passed 4-4-1988; Am. Ord. 1088, passed 2-16-1999)