(A) The city, upon 14 days’ advance written notice, clearly stating the reason for, and its intention to exercise withdrawal rights under this section, may withdraw an amount from the Security Fund; provided that, the permittee has not reimbursed the city for such amount within the 14-day notice period.
(B) Withdrawals may be made if the permittee:
(1) Fails to make any payment required to be made by the permittee hereunder;
(2) Fails to pay any liens relating to the facilities that are due and unpaid;
(3) Fails to reimburse the city for any damages, claims, costs or expenses which the city has been compelled to pay or incur by reason of any action or non-performance by the permittee; or
(4) Fails to comply with any provision of this chapter that the city determines can be remedied by an expenditure of an amount in the Security Fund.
(Prior Code, § 33-10-10)