(A) Bond required.
(1) No building contractor’s license or a renewal thereof shall be issued by the City Controller until the applicant shows proof of a unified license bond as required by I.C. 22-11-3.1-2(a).
(2) The bond shall be held for compliance with the ordinances and regulations governing contracting business within the city and shall be filed with the Lake County Recorder as required by I.C. 22-11-3.1-2(b).
(3) The city shall not provide any legal services in disputes between contractors and clients nor shall the city provide legal services in any court action involving surety bonds.
(B) Insurance required. All contractors licensed under this subchapter shall be required to obtain and to file with the City Controller a certificate, issued by a duly- authorized officer of a responsible insurance company authorized to do business in this state, showing that the licensee has in full force and effect all of the following.
(1) Worker’s compensation covering all employees on any work done within the city, as required by labor law;
(2) Public liability in the amount of not less than $100,000 for 1 person or $300,000 for 1 accident;
(3) Property damage in the amount of not less than $50,000;
(4) The worker’s compensation and public liability insurance shall be kept in full force and effect during the entire license period; and
(5) The licensee shall also comply with the provisions of the Workmen’s Compensation Act of the state.
(Prior Code, § 150.06) (Ord. 3456, passed 5-10-1965; Am. Ord. 3851, passed 11-13-1972; Am. Ord. 7658, passed 2-28-1994; Am. Ord. 7686, passed 6-13-1994)