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(A) The city shall require a permit bond and liability insurance to be filed along with each application to do any type of construction work within the right-of-way:
(a) Permit bond, minimum, $5,000
(b) Liability insurance, minimum $50,000
(2) Private property owners:
(a) Permit bond, minimum, $1,000 (single address)
(b) Liability insurance, minimum is a rider to the homeowner's policy naming the city as additional insured.
(B) Such bonds are required to insure compliance with all term of the permit and shall in the case of noncompliance, provide in addition to any damages suffered thereby, all witness and court costs in collecting the same, together with any attorney's fee reasonably due, and shall be released only when the work described on the permit has been completed to the satisfaction of the right-of-way permit engineer or his representative.
(C) This bond is required for a period of one year, and shall be considered as continuous bond. This bond and liability insurance must be on file in the right-of-way permit department before any right of-way permits shall be issued.
(D) The proper bond forms may be obtained from the right-of-way permit department, Room 480, City-County Building.
('74 Code, § 25-40) (Ord. G-06-74, passed - -74) Penalty, see § 99.999