A grading permit shall not be issued for any cut, fill, or stockpiling involving quantities
more than five hundred cubic yards or for excavations or fills over fifteen feet in
vertical height, or for work being done in increments of five hundred cubic yards
or less that is part of a larger development unless the permittee shall first file
a bond for the benefit of the County; provided, that if the proposed grading is to
be performed under an approved subdivision plan and a subdivision bond has been filed,
then the director shall not require a bond for grading or stockpiling. At the option
of the applicant, he may either file a bond guaranteed by a surety company duly authorized
to transact business within the State of Hawaii, or he may deposit cash in lieu of
a bond guaranteed by a surety company. No interest shall be paid by the county on
such cash deposits.
