(a) Each Facilities Operator must procure and provide to the Village a bond, escrow, deposit, letter of credit, or other financial surety to ensure compliance with this Chapter and Chapter 4939 of the Ohio Revised Code. The financial surety must be in an amount sufficient to cover the cost of removal of all Facilities owned or operated by the Facilities Operator.
(b) The Village may, in its sole discretion, draw on the financial surety to remove abandoned, unused or unsafe Facilities, or to repair damage to any Village property caused by the Facilities Operator or its agent. In such event, the Facilities Operator shall cause the financial surety be replenished to its prior amount within ten (10) business days after Village notifies the Facilities Operator that it has drawn on the financial surety.
(Ord. 2019-10. Passed 1-14-19.)