At the time this franchise renewal becomes effective, the Company shall furnish a bond to the City in the amount of twenty-five thousand dollars ($25,000.00) in such form and with such sureties as shall be acceptable to the Mayor of the City, guaranteeing the faithful performance of all the obligations of the Company under the terms of this franchise.
The Company's performance of its obligations under this franchise shall be conditioned upon the Company's receiving such license and/or grants as may be necessary to the performance of this ordinance, from duly constituted agencies of the Federal government or the State of Ohio, which licenses and/or grants the Company either presently holds or agrees to apply for immediately upon its acceptance of this chapter.
(Ord. 91-102. Passed 10-21-91.)