Martinez Municipal Code Ch. 12.16 Bonds and Cash Deposits

Unless this chapter is waived in the permit and before a permit is effective, an applicant shall deposit with the engineer, or agent authorized by resolution of the City Council, cash or a certificate or cashier's check, in a sum to be fixed by the 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 the sum estimated by the engineer as sufficient to cover his activities during any twelve-month period.

(Prior code § 4223)

In lieu of the cash deposit prescribed by Section 12.16.010, the applicant may, upon approval by the 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 application for a permit, and the balance of the sum fixed by the 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.

(Prior code § 4224)

In lieu of a cash deposit, the applicant may, upon approval by the engineer, annually file with the engineer an approved surety bond issued by a company authorized to do a general surety business in the State in a sum fixed by the 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 of the City Council.

(Prior code § 4225)

The engineer may require an additional bond or cash deposit at any time that evidence indicates that the amount of the bond or cash deposit previously made is insufficient to cover the cost of restoring the right-of-way to its former condition, subject to the schedules, if any, adopted by resolution of the City Council.

(Prior code § 4226)

The condition of any bond or cash deposit made pursuant to this chapter shall be that the permittee will diligently and in good faith comply with all the terms of Chapters 12.04 through 12.20 and the terms and conditions of the permit.

(Prior code § 4227)

Any bond or cash deposit required by the engineer pursuant to this chapter shall be payable to the City and shall be filed with the 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.

(Prior code § 4228)