Persons in the business of performing excavating of earth for various purposes shall be required to have bond, payable to the city in the amount of five thousand dollars, before being issued a license, or the purpose of indemnifying the city for any damages to its streets or other property caused by excavation. Such bond must be kept in effect during the entire time that excavator has a license or any renewal thereof. (Ord. 657 § 1(part), 2004)