Article III — Bonds

Unless this article is waived in the permit and prior to the issuance of a permit, the applicant must file with the director a bond equal to the cost plus twenty percent of the work required to be done in order to comply with all the terms and conditions of such permit as estimated by the director.

(Ord. No. 1948, § 1, 2-21-2018)

In lieu of a surety bond required by Section 12.04.160, the applicant may deposit cash in the amount described in Section 12.04.160 to secure the performance of the terms and conditions of the permit and the compliance with the provisions of this chapter.

(Ord. No. 1948, § 1, 2-21-2018)

As an alternative to the requirements of Section 12.04.160, the applicant may, upon approval of the director, annually file with the director a bond equal to the estimated costs plus twenty percent of the work required to be done in order to comply with all of the terms and conditions of permits issued during the year and to comply with this chapter.

(Ord. No. 1948, § 1, 2-21-2018)

An applicant for a permit for a use or encroachment which is to continue or remain within, under or upon the right-of-way of a public highway beyond the time authorized for construction or installation shall file with the city clerk a cash deposit or surety bond equal to the cost plus twenty percent in order to make the right-of-way safe and convenient for travel to the general public.

(Ord. No. 1948, § 1, 2-21-2018)

The director may require an additional bond or cash deposit to supplement those required by Sections 12.04.160 to 12.04.190 at any time when in his or her opinion the amount of the bond or cash deposit previously made is insufficient.

(Ord. No. 1948, § 1, 2-21-2018)

A.

The bonds provided for in this article shall be executed by the applicant or contractor doing work as principal and by a surety company authorized to do business in this state as a surety. The bond shall name the city as obligee and shall be conditioned as follows:

That each and all of the terms and conditions of the permit shall be fully performed and complied with to the satisfaction of the director;

That each and all of the provisions of this chapter are complied with.

B.

An extension of time for performance of work may be granted by the director, but no such extension of time shall be valid unless written and no such extension shall release any surety company upon any bond.

(Ord. No. 1948, § 1, 2-21-2018)

Any bond or cash deposit required by the director pursuant to this article shall be payable to the city. Upon satisfactory completion of all work authorized in the permit according to the terms of the permit and this chapter the bond or cash deposit shall be released. In the event of noncompliance, the city may deduct from the cash deposit the actual cost to the city plus twenty percent of work done by the city pursuant to Section 12.04.120 before returning the deposit to the depositor. In the event of a bond having been posted, the city may proceed against the surety and principal for the actual cost to the city plus twenty percent of work done by the city pursuant to Section 12.04.120.

(Ord. No. 1948, § 1, 2-21-2018)

Cash deposits or bonds will not be required of any public utility or public agency which is authorized by law to establish or maintain any works or facilities in, under or over any public street or right-of-way.

(Ord. No. 1948, § 1, 2-21-2018)