(A) Any permittee except a public utility corporation or a bonded plumber shall file with the City Clerk a corporate surety bond in the amount of $3,000, or in such other amount as may be established by the Council, conditioned that the permittee will:
(1) Perform all work in connection with the excavation in accordance with applicable ordinances and regulations;
(2) Indemnify the city and hold it harmless from all damage caused in the execution of such work; and
(3) Pay all costs and damages suffered by the city by reason of the failure of the permittee to observe the terms of applicable ordinances and regulations or because of negligence in the execution of the work.
(B) The bond shall be approved as to form and legality by the City Attorney prior to issuance of the permit.
(C) Any permittee except a public utility corporation shall furnish proof that the permittee has in existence an insurance policy protecting him from liability to the public, including the city, to an amount equal to the maximum claim the city might be required to pay under M.S. Ch. 466, as amended from time to time.
(Prior Code, § 301.03)
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