(A) Unless otherwise prohibited by law or otherwise provided in a valid franchise agreement or interlocal agreement with the city, to ensure performance, each registrant seeking a surface-cut permit must establish a performance bond in favor of the city to be issued by an entity subject to jurisdiction and venue in the city in an amount to be determined by the City Administrator in consultation with the City Engineer, which shall be in effect for and cover all surface cuts made by that party for a period of two (2) years after the final inspection and approval of the surface cut by the City Administrator. There shall be recoverable, jointly, and severally, from the principal and surety of the bond, any damages or losses suffered by the city as a result, including the full amount of any right-of-way repair, compensation, indemnification, or cost of removal or abandonment of any property of the registrant, plus attorney’s fees and court costs, up to the full amount of the bond.
(B) The bond shall contain the following endorsement:
“It is hereby understood and agreed that this bond may not be canceled by the surety nor the intention not to renew be stated by the surety until thirty (30) days after receipt by the City of Dayton, via registered mail, a written notice of such intent to cancel or not to renew.”
(C) In no event shall the amount required by the City Administrator for the performance bond exceed the reasonable costs of repairing the activity affiliated with the surface-cut permits. This provision shall not apply to the city. In lieu of a performance bond, the City Administrator may allow the applicant for a surface-cut permit to deposit with the City Administrator an amount appropriate to cover the city’s cost of repairing the surface cut; to be held for a similar period. The city reserves the right to impose additional security requirements as part of any surface-cut permit or franchise agreement.
(Ord. 2022-27, passed 12-6-22)