If the public works director determines that there is a possibility of injury, damage or expense to the city, the easement or the public way, arising from an applicant’s proposed use of any public way, the applicant for a permit under this chapter shall furnish to the city a surety bond, cash or certified check, payable to the city, to be in an amount not less than five hundred dollars ($500). The deposit shall be in an amount determined by the public works director at the time of approving the application and shall be used to pay the cost plus overhead charges such as materials, labor or other costs of inspectors, surveys or other services performed by the city above those included within the permit fee of restoring the street and removing any earth or other debris from the street, of the replacement of any utility interrupted or damaged, and of the completion of any work left unfinished, and any other expense the city may sustain in conjunction with the permitted work. In the case of a cash indemnity deposit, the balance, if any, after the deductions listed in this section, shall be returned to the applicant. If the deposit is insufficient the applicant will be liable for the deficiency. [Ord. 15-01 § 3.]