Clayton Municipal Code Art. III Cash Deposit and Bonds

Unless this part is waived in the permit and before a permit is effective, an applicant shall deposit with the city engineer, or agent authorized by resolution of the city council, cash or a certified or cashier's check, in a sum to be fixed by the city engineer as sufficient to reimburse the city for costs of restoring the right-of-way to its former condition, based on the schedules, if any, adopted by resolution of the city council, provided, however, that an applicant may file a cash deposit on an annual basis in a sum estimated by the city engineer as sufficient to cover his activities during any twelve-month period.

(Ord. 37, 1965)

In lieu of the cash deposit prescribed in the section above, the applicant may, upon approval by the City Engineer, file a cash deposit in the minimum sum established by the schedules, if any, adopted for that purpose by the City Council and in effect at the time of the application for a permit, and the balance of the sum fixed by the City Engineer as sufficient to reimburse the City expenses incurred in restoring the right-of-way to its former condition, may be filed in the form of an approved surety bond issued by a company authorized to do a general surety business in the State of California.

(Ord. 37, 1965)

In lieu of a cash deposit, the applicant may, upon approval by the city engineer, annually file with the city engineer an approved surety bond issued by a company authorized to do a general surety business in the state of California, in a sum fixed by the city engineer as sufficient to reimburse the city for expenses to be incurred in restoring the right-of-way to its former condition, subject to the schedules, if any, adopted by resolution by the city council.

(Ord. 37, 1965)

The city engineer may require an additional bond or cash deposit at any time when in his opinion the amount of the bond or cash deposit previously made is insufficient, subject to the schedules, if any, adopted for that purpose by the city council, and in effect at the time of application for a permit.

(Ord. 37, 1965)

The condition of any bond or cash deposit made pursuant to this chapter shall be that the permittee will diligently and with good faith comply with this chapter and the terms and conditions of the permit.

(Ord. 37, 1965)

Any bond or cash deposit required by the city engineer pursuant to this chapter shall be payable to the city, and shall be filed with the city engineer. Upon satisfactory completion of all work authorized in the permit and fulfillment of all conditions of the permit, the city council will release the bond or cash deposit upon the expiration of ninety (90) days.

(Ord. 37, 1965)