In lieu of the Construction Bond required by § 52.210, the Removal Bond required by § 52.211 and the Blanket Bond required by § 52.212, those providers maintaining a book value in excess of U.S. $20,000,000 may submit a statement to the Public Works Director requesting to self-bond. If approval to self-bond is granted, a provider shall assure the city that such self-bonding shall provide the city with no less protection and security than would have been afforded to the city by a third party surety providing provider with the types and amounts bonds detailed in the above named sections. This statement shall include:
(A) Audited financial statements for the previous year;
(B) A description of the applicant's self-bonding program; and
(C) Other applicable and pertinent information as reasonably requested by the Public Works Director.
(Ord. 24-2004, passed 12-20-04)