The deposit of money made under § 901.04 shall stand as a guarantee and may be employed by the city for the replacement of such public place in as good condition as the same was immediately before the excavation or digging, and upon default of the person so making such deposit to restore immediately the public place to as good condition as the same was immediately before such excavation or digging was done by him, the City Engineer may employ the whole or any part of such deposit of money necessary for such restoration. Upon the restoration of the public place to such condition as the same was immediately before such digging or excavating, the City Clerk shall, upon the certificate of the City Engineer or City Manager, restore to the person so making such deposit such sum of money so deposited or in case any part thereof is employed by the city for such restoration of such public place, upon such certificate, the City Clerk shall refund such part of such sum of money so remaining.
('71 Code, § 901.08)