[Amended 7-28-1992]
Prior to final approval of the installation of said fuel oil lines and prior to acceptance by the Town of any streets in which are located such fuel oil lines, a cash deposit or a corporate surety bond issued by a surety company licensed to do business and having a place of business in the State of Connecticut or such other security deemed satisfactory by the Town Council in an amount of $25,000 shall be delivered to the Town Manager to guarantee the proper rebuilding and resurfacing of any Town street in which excavations may be required to be made to repair or maintain said fuel oil line. Said bond or such other security as is posted shall be for a period of five years, at the end of which time such security shall be renewed for additional periods of five years each, and no owner, developer or supplier of oil shall be authorized to supply oil or to service such facility until such security has been duly filed and accepted by the Town. In the event that the maintenance or repair of said fuel oil line requires excavation into a Town street, the Town shall have full recourse against such security filed with the Town if the street has not been restored to a reasonable condition as approved by the Town Engineer within a reasonable period after completion of the repairs or maintenance.