A.
The applicant prior to the excavation or related work, shall provide to the Township written proof that said person or entity has secured a surety bond in the amount calculated by the Township Engineer based on street restoration security, which bond shall assure the safe and proper performance and completion of said excavation and said related work and shall assure the complete and proper restoration of the land, premises and buildings involved in, or affected by said excavation and said related work. Said surety bond shall guarantee restoration and maintenance of the road for a period of at least two years after the acknowledged completion of the permitted work. Said surety bond may be obtained from a surety or insurance company authorized by law to provide such surety bonds within Pennsylvania according to the laws of Pennsylvania or may be posted as a cashier's check or certified check or may be posted as a letter of credit from a financial institution approved by a duly enacted motion by Township Supervisors. No other type of bonds will be acceptable or permitted.
B.
Public utilities and franchised organizations may, in lieu of providing security with each application, post with the Township a surety or cash bond, or other acceptable security, in the amount of $10,000. The validity of such security shall be demonstrated annually at the beginning of each calendar year. In cases of anticipated projects of unusual magnitude, the Roadmaster may require a separate security for normal repairs and common work in excess of $10,000 as a condition of permit issuance.