(A) General. An application hereunder shall be accompanied by a cash deposit in the sum of $10,000 as an indemnity for any damage which the city may sustain by reason of damage or injury to any highway, street or alley, sidewalk fire hydrant or other property of the city, which may be caused by or be incidental to the removal of any building over, along and across any street in the city and to indemnify the city against any claim of damages to persons or private property, and to satisfy any claims by private individuals arising out of, caused by or incidental to the moving of any building over, along or across any street in the city. This damage deposit shall be in addition to the permit fee and deposit for expense to the city.
(B) Bond in lieu of deposit.
(1) Any person filing an application hereunder may, in lieu of the general cash deposit required above, file with the Building Inspector a bond, approved as to form by the City Attorney, executed by a bonding or surety company authorized to do business in the state, in the amount of $100,000, conditioned upon the assurance that this and other applicable ordinances and laws will be complied with.
(2) Such bond shall run to the city for the use and benefit of any person or persons intended to be protected thereby and shall be conditioned on the payment of any damage to public or private property and the payment of any damages or losses resulting from any malfeasance, misfeasance or non- feasance or negligence in connection with any of the activities or conditions upon which the permit applied for is granted.
(C) Insurance policy in lieu of deposit. Any person filing an application hereunder may, in lieu of the general cash deposit required above, file with the Building Inspector a liability insurance policy, issued by an insurance company authorized to do business in the state, and approved as to form by the City Attorney, in the same amount and providing the same protection as would be required for bond hereunder.
(1976 Code, § 9-305) (Ord. 1106, passed 6-6-1994; Ord. 1422, passed 5-9-2011)