A. Any person, other than a public utility, or persons who have obtained permits pursuant to Chapters 12.20, 12.24 and 12.28 CVMC, who shall apply for a franchise or permit to cut or excavate a surfaced or paved street, alley, public place or sidewalk for any purpose mentioned in CVMC 5.30.020, shall post with the City a good and sufficient surety company bond or a cash deposit in an amount equal to twice the estimated cost of replacing such surfaced or paved street, alley, sidewalk or public place in the same condition as before the same is excavated or cut, to insure and to guarantee all cost of replacing such surfacing or paving in the same condition as before the same was cut or excavated and in the manner provided for in CVMC 12.16.050 through 12.16.070, and to insure and guarantee the cost of maintaining such surfacing or paving for a period of two years from the date the same is replaced. The Director of Public Works shall determine the amount of such bond in accordance with this section, and his determination of the estimated cost of replacing such surfacing or paving shall be final.

B. Any general contractor, licensed by the state and the City, may, in lieu of posting a bond for each job as above provided, post a cash deposit or a blanket bond in the sum of $4,000 issued by a surety company acceptable to the City and approved by the City Attorney, which, by its terms, is made to guarantee the replacing and maintenance of such surfaced streets, alleys, sidewalks or public places as above provided, and which shall, by its terms, not be subject to withdrawal or cancellation without the consent of the Council, until two years have expired since the last job performed by such contractor involving excavations in such surfaced streets, alleys, sidewalks or other public places has been completed. (Ord. 1205 § 2, 1969; prior code § 27.604).