(A) Before the Clerk/Treasurer may issue a water and sewer construction permit for a commercial or industrial project, the applicant shall file with the Clerk/Treasurer a corporate surety bond in the amount of at least $2,000, or deposit with the Clerk/Treasurer cash or other securities in that amount. It shall be conditioned upon faithful performance of all work undertaken to be done with due care and skill, and in compliance with the requirements of this code and in compliance with all other applicable requirements. The bond shall state that the person will defend, indemnify, and save harmless the city and the person for whom the work is undertaken against all damages, costs, expenses, outlays, and claims of every nature and kind arising out of un-skillfulness or negligence on the applicant’s part in connection with the excavating, plumbing, and other work undertaken. The bond shall remain in force and must be executed for a period of at least one year, and upon expiration it shall remain in force as to all penalties, claims, and demands that may have accrued under it prior to its expiration.
(B) In the case of a residential water and sewer construction permit application, the applicant, before a permit may be issued, shall secure from a reputable, established insurance company licensed to do business in the state and maintain in effect a policy of insurance against damage to property and injury or death to person. The property damage coverage shall be in the amount of at least $300,000 and the public liability coverage for injury or death shall be in the amount of at least $300,000 per person and $1,000,000 per occurrence. The policy shall provide that the Clerk/Treasurer shall be notified prior to any termination or modification of the insurance. Proof of insurance shall be filed with the Clerk/Treasurer.
(Prior Code, § 50.48) Penalty, see § 50.999