Upon issuance of a Certificate of Registration, and continuously thereafter until 120 days after a provider's facilities have been removed from the rights-of-way, (unless the Public Works Director notifies the provider that a reasonably longer period shall apply), a provider shall deposit with the Public Works Director and maintain, in a form acceptable to the Director of Law, an irrevocable, unconditional letter of credit or a surety bond in an amount equal to or greater than U.S. $50,000. The Public Works Director shall make all reasonable efforts to allow provider a period of five business days after serving notification to correct or repair any default, problem or deficiency prior to the Public Works Director attachment of letter of credit or surety bond regarding the removal of facilities. Upon attachment, written notice shall be provided to the provider by the Public Works Director.
(Ord. 24-2004, passed 12-20-04)