(A) Insurance.
(1) The franchisee shall be required to maintain insurance in such forms and in such companies as shall be approved by the county with the county named as the coinsured, such approval not to be unreasonably withheld, to protect the county and franchisee from and against any and all claims, injury, or damage to persons or property, both real and personal, caused by the construction, erection, operation, or maintenance of any aspect of the system. The amount of such insurance shall not be less than the following:
(a) General liability insurance:
1. Bodily injury per person: $500,000;
2. Bodily injury per occurrence: $1,000,000; and
3. Property damage per occurrence: $500,000.
(b) Automobile insurance:
1. Bodily injury per person: $100,000;
2. Bodily injury per occurrence: $300,000; and
3. Property damage per occurrence: $300,000.
(2) The county may require the foregoing insurance coverage to be changed from time to time during the term of the franchise.
(3) Worker’s compensation insurance shall also be provided as required by the laws of the state, as amended.
(4) All said insurance coverage shall provide a 30-day notice to the County Manager in the event of material alteration or cancellation of any coverage afforded in said policies prior to the date said material alteration or cancellation shall become effective.
(5) A certificate of coverage for all policies required hereunder shall be furnished to and filed with the County Manager, prior to the commencement of operations or expiration of prior policies, as the case may be.
(B) Faithful performance bond. The franchisee shall, concurrently with its acceptance of this franchise, file with the County Manager and at all times thereafter maintain in full force and effect for the term of this franchise or any renewal thereof, at franchisee’s sole expense, a corporate surety bond with a responsible company licensed to do business in the state and approved by the county, in the amount of 5% of the anticipated cost of construction of the proposed CATV system for the unincorporated areas of the county, renewable annually, and conditioned upon the faithful performance of the franchisee, and in accordance with the provisions of this chapter and upon the further condition that in the event the franchisee shall fail to comply with any one or more of the provisions of the franchise, there shall be recoverable jointly and severally from the principal and surety of such bond any damages or loss suffered by the county as a result thereof, including the full amount of any compensation, indemnification, or cost of removal or abandonment or any property of the franchisee as prescribed hereby, plus a reasonable allowance for attorneys’ fees and costs, up to the full amount of the bond, said condition to be a continuing obligation for the duration of the franchise and any renewal thereof and thereafter until the franchisee has liquidated all of its obligations with the county that may have arisen from the acceptance of this franchise or renewal by the franchisee or from its exercise of any privileges or rights herein granted. The bond shall provide that at least 30 days’ prior written notice of intention not to renew, cancellation, or material change be given to the county by filing same with the County Manager. Said required performance bond shall be reduced to $2,000 once the franchisee has connected sufficient energized cable to serve the areas required to be served by § 114.019(B) hereof. Failure to keep a performance bond in force at all times as herein provided shall constitute an event of default.
(C) Deposit in lieu of bond. In lieu of the performance bond by a surety company as herein provided the franchisee may file and deposit with the county a performance bond without a corporate surety but secured by a certificate of deposit in some bank or savings and loan association in the state, in the sum of the performance bond required by § 114.032(B) hereof conditioned in the same manner as the performance bond of a surety company hereinbefore described. The income from such deposit shall be payable to the franchisee. As an alternative, the franchisee may provide such other security as may be approved by the Board of Commissioners, but ,absent such approval, it shall provide a bond or deposit in lieu thereof as above provided.
(Ord. passed 10-18-1982) Penalty, see § 114.999