§ 66-10. Bond and deposit requirements.

A. 

Before the issuance of a permit, the applicant shall execute and file in the office of the Village Clerk a bond in the amount of not less than one thousand dollars ($1,000.), conditioned upon the performance of the work in accordance with the plan submitted under § 66-9 hereof and all other conditions of this Article, and indemnifying the village against any damage to village property; in the event of a default, such bond shall be forfeited to the village. In lieu of such bond, a cash deposit or negotiable securities may be deposited with the Village Administrator.

B. 

Upon satisfactory completion of the contemplated work in accordance with the application and this Article, such bond or cash deposit shall be released by the Village Administrator. Satisfactory completion of the work shall be evidenced by the certification of a licensed land surveyor or professional engineer.