(A) Construction and maintenance bonds.
(1) The town shall have the authority to require an applicant hereunder to file a bond conditioned to protect and save harmless the town from all claims for damages or injury to other persons by reason of alteration work. The bonds shall accompany an application for a permit hereunder.
(2) In cases where the estimated cost of the project shall exceed $500, the town shall require a maintenance and construction bond to be filed with the application for a permit hereunder in an amount equal to one-third of the estimated cost of the project and conditioned that the work shall be done in accordance with the town standard specifications and guaranteeing the same for a period of one year. Substitutes for bonds may be requested but must be approved in advance by the town and any vehicle approved must provide the same security to the town as the bond.
(B) Noncompliance; subsequent action. In any case where a permittee hereunder shall be in default or shall fail to comply with the requirements of this article, the town shall order the completion of the work by the town and shall recover the cost from the permittee as required by law.
(Prior Code, § 145-4) (Ord. passed 3-19-1973; Ord. 01-2020, passed 3-16-2020)