Owners of rented or leased premises are afforded the option of requiring their tenants, occupants or lessees to be responsible for payment of bills for separately metered utilities by having the tenant, occupant or lessee sign the application and make payment of a deposit fee equal to the total of the two highest utility bills for said separately metered utilities for the premises during the preceding 12-month period, or an estimated deposit fee as determined by the city. In case of default of payment by the tenant, occupant or lessee, the deposit fee will be applied to payment of any delinquent utility bill on the premises. [Code 2000 § 4-2-2].