Langley (Township) By-law 4758, s. 608(1) — Highway and Traffic Bylaw

As a prerequisite to the issuance of a permit under this Section, the applicant shall, if required by the Engineer, deposit with the Municipality a sum of money, or Irrevocable Letter of Credit from a financial institution acceptable to the Director of Finance if the amount is greater than Five Hundred Dollars ($500.00), in an amount of 120% of the cost of the proposed works or as sufficient security that the obligations imposed by the permit are fulfilled within the time specified by the permit and, where applicable, one year’s maintenance;