A company granted a franchise hereunder shall furnish a bond to the village in the amount designated by the franchising authority and in a form and with the sureties as shall be approved by the Village Council, guaranteeing the faithful performance of all of the obligations of the franchisee under the terms of this chapter, within 30 days after the commencement of this franchise, if the bond has not already been given.
(Ord. 742-80, passed 12-9-1980)