(a) Each Facilities Operator must procure and provide to the Village a bond, escrow, deposit, letter of credit, or other financial surety in an amount sufficient to cover the cost of removal, as established by the Building Official, of all Facilities owned or operated by the Facilities Operator.
(b) The Village may, in its sole discretion, draw on the financial surety to remove abandoned Facilities, remove or repair damaged Facilities, or to repair damage to any Village property caused by the Facilities Operator or its agent. In such event, the Facilities Operator shall cause the financial surety to be replenished to its prior amount within ten (10) business days after the Village notifies the Facilities Operator that it has drawn on the financial surety.
(Ord. 2019-15. Passed 5-14-19.)