(a) The application for an excavation permit to perform excavation work under this article shall be accompanied with a cash deposit, for deposit with the city, in an amount set forth in appendix B to this code per square foot of surface of each excavation to be made in streets which have been paved and for each square foot of surface of each such excavation to be made in streets which are not paved. No deposit shall be less than the minimum as set forth in appendix B to this code. Any person intending to make openings, cuts or excavations in streets may make and maintain with the city a general deposit in the amount set forth in appendix B to this code, and the person so depositing shall not be required to make the special deposits provided in this section but shall, however, be required to comply with all other applicable sections of this article. Any special or general deposit made under this section shall serve as security for the repair and performance of work necessary to put the street in as good condition as it was prior to the excavation, if the permittee fails to make the necessary repairs or to complete the proper refilling of the opening and the excavation work under the excavation permit.

(b) Upon the permittee's completion of the work covered by such permit in conformity with this article, as determined by the city, except in the case of a general deposit, the balance shall be refunded by the city to the permittee upon the expiration of a 12-month period. However, the city may use any or all of such deposit to pay the cost of any work the city performs to restore or maintain the street if the permittee fails to perform such work, in which event the amount refunded to the permittee shall be reduced by the amount thus expended by the city.