All persons in the first class, before they dig or excavate in any public place, shall deposit with the City Treasurer a bond to be approved by the City Attorney, in a principal sum to be fixed by the Mayor and Street Commissioner, with good and sufficient corporate surety, to be approved by the Mayor and Street Commissioner or by the Common Council, and conditioned upon the prompt and immediate replacement of such place in as good condition as it was immediately before such person had so excavated or dug into or otherwise molested or altered in any particular any such public place, which bond shall be and continue to be effective and binding on the parties signing the same for the period of five years from the date thereof, unless sooner revoked by the agreement of the parties, and as much longer as may be necessary to determine compliance therewith as hereinafter provided; and the city shall have the right to recover on any such bond for violation of any condition thereof after 18 months from the time of the completion of any replacement project; and such bond shall be upon other conditions properly relating to the purpose of such bond as the City Attorney may prescribe; and the waiver or release by the city of any violation of any condition of the bond, or the failure of the city to act within the time specified upon any violation of any condition of the bond, shall not be taken to be, and shall not be, a waiver, release, or abandonment of any other violation.
(Prior Code, § 25-30)