§ 10-4-101. Construction bond.

   (a)   Generally. Within 30 days after the granting of a new franchise or a renewal that requires significant system construction as specified in the franchise agreement and before the commencement of construction by the franchisee, the franchisee shall file with the County a construction bond in the amount specified in the franchise agreement in favor of the County and any other person who may be entitled to damages as a result of the breach of any duty by the franchisee, unless the franchisee has filed security with the County to cover its physical plant pursuant to § 13-3-114 of this Code, in which case the security shall serve as the construction bond required by this article.

   (b)   Coverage. Among other matters, the construction bond shall cover the cost of removal of any facilities or equipment installed by the franchisee if the franchisee defaults in the performance of its franchise obligations.

   (c)   No limitation on liability. The amount of the bond is not a limitation on the liability of the franchisee for damages.

   (d)   Waiver. The County may waive the construction bond or permit consolidation of the construction bond with the performance bond and security fund as specified in §§ 10-4-102 and 10-4-104.

   (e)   Release. On completion of construction, any construction bonds then in force and not consolidated pursuant to § 10-4-101(d) shall be released.

(Ord. 54-06)