Grantee may be required to obtain and maintain throughout the period of any construction (or reconstruction), at its sole cost and expense, a corporate surety bond from a company authorized to do business in the State of California. Such bond will guarantee the timely construction (or reconstruction) and full activation of the cable system, and the safeguarding of damage to private property and restorage of damages incurred by utilities. The bond shall be filed with the City Clerk at least 30 days prior to the commencement of any construction, and shall be in the form specified and approved by the City Attorney. Bond requirements, including amount, shall be specified in the franchise agreement.
(Ord. 4315, passed 11-12-96)