(1) In the event an annual permit is requested, a surety bond in the amount of $5,000. In the event of an application for a permit for one particular cut or break in an alley or street, a surety bond in the amount fixed by the City Engineer, but not to exceed $2,500. This bond may be left on deposit with the City for a period of one year. The bonds in either of said cases to be conditioned that the applicant will, immediately upon the completion of the work, remove all surplus earth, rubbish, or other materials, replace the pavement cut or undermine in a condition as good as or better than it was before, and keep the same in good repair, at his/her own expense, for a period of time to be designated by the City Engineer, but not to exceed one year from the completion of the work;

(2) In lieu of the above mentioned surety bond, the applicant may file as security cash or certified check in an amount equal to twice the estimate of replacement value of pavement to be cut, together with the costs of reexcavation and refilling with proper materials, if necessary, as determined by the City Engineer, to be held and returned subject to the same conditions as set forth in the case of surety bonds; provided, however, that in the case of unimproved streets, no security shall be required, unless, in the opinion of the City Engineer, such security is necessary for the protection of the public interest. (Ord. 177, passed 9-8-2020)