No general contractor, plumbing contractor, electrical contractor and/or builder shall obtain a permit unless and until a surety bond in the sum of twenty thousand dollars ($20,000) is provided with terms and conditions to protect the City and/or its inhabitants from any damages. The surety bond shall be approved by the Law Director and filed with the Building Commissioner and shall remain in effect until released by the Commissioner. In addition, the general contractor, plumbing contractor, electrical contractor and/or builder shall provide a completion deposit of not less than eighty dollars ($80.00) nor more than three hundred dollars ($300.00) the sum to be determined by the Commissioner in relation to the type, nature, and extent of work or operation involved. If after two years from the time of making such deposit, the work contemplated by the permit issued has not been completed pursuant to an occupancy permit therefor issued in accordance with Section 1311.01, or necessary repairs, or restoration of the curb, tree lawn, sidewalk, ditch or culvert have not been made, such deposit or any portion thereof remaining shall be forfeited to the City without further notice.
(Ord. 49-2004. Passed 9-27-04.)