Permits to work or occupy the public right-of-way, alley, or public area for purposes of construction, reconstruction, repairs, or maintenance of public or private facilities shall be issued by the Department only to persons who have executed and delivered to the City a security. The security shall be for the warranty duration set forth in § 100.25 not to exceed 2 years commencing at the issuance of a permit. The security shall indemnify and save harmless the City from any liability on account of accident or damage caused by the work or occupation of the public right-of-way, alley, or public area. The security shall provide for the faithful performance by the permittee of all the requirements of this Chapter and any expenditure, damage, or loss incurred by the City occasioned by the permitee's failure to comply with any codes, policies, rules, regulations, orders, permits and other directives of the City issued pursuant to this Chapter.
(A) The form of the security shall be a performance bond or surety bond or unconditional letter of credit. The form shall provide that the security will not be canceled without prior notice to the City and the security will not require the consent of the permitee prior to the collection by the City of any amounts covered by it.
(B) The dollar amount of the security shall be an amount sufficient to provide for the reasonably estimated cost to restore the work to at least as good a condition as that existing prior to the issuance of the permit as determined by the Department or $10,000, whichever is greater.
(Ord. 8941, passed 4-15-14)