(a) Bond Permitted in Lieu of Deposit. Contractors anticipating construction or alteration of more than one driveway during a calendar year may provide the City with an acceptable corporate surety bond conditioned on compliance with the requirements of this chapter, in lieu of the deposit required in Section 907.03
. The City Manager or Service Director shall determine the amount of the bond, and it shall be in relation to the cost of driveways anticipated by the contractor during the year.
(b) Default in Performance; Notice. Whenever the City Manager finds that a default has occurred in the performance of any term or condition of the permit, written notice thereof shall be given to the principal and to the surety on the bond. Such notice shall state the work to be done, the estimated cost thereof and the period of time deemed by the City Manager to be reasonably necessary for the completion of such work.
(c) Responsibility of Surety. After receipt of such notice, the surety must, within the time therein specified, either cause the required work to be performed or, failing that, indemnify the City for the cost of doing the work as set forth in the notice.
(Ord. 69-6. Passed 4-1-69.)