A. Insurance: The city shall require the permittee to produce evidence of insurance from an insurer, certifying to the amount of coverage and to the period of coverage prior to issuing the permit. The insurer shall list the names of the insured, the type and amount of coverage, the location and operations to which the insurance applies and the date of expiration.
1. Public Liability Insurance: Coverage in an amount not less than five hundred thousand dollars ($500,000.00) for bodily or personal injury, death, or property damage or loss as the result of any one occurrence or accident, regardless of the number of persons injured or the number of claimants, plus any additional amount of coverage required by Idaho Code section 6-924 as may be amended from time to time.
2. Workers' Compensation: The permittee shall submit acceptable evidence that all workers or employees at the site are covered in accordance with applicable laws pertaining to workers' compensation and shall defend and protect the city from and against all claims resulting from failure of the permittee to maintain such insurance.
3. Builders' Risk: The permittee shall secure all-risk type of builders' risk insurance covering all work performed, materials, equipment or other items incorporated therein and within the public right of way or other public place. The policy shall name the city, its officials, employees and agents as additional insureds.
B. Bond: The city shall require the permittee to obtain a bond or other form of surety, as deemed appropriate by the city, in an amount equal to one hundred fifty percent (150%) of the cost of restoring the area within the public right of way or other public place, including the cost of pavement replacement and all other restoration work required by this chapter.
1. If the permittee is an individual property owner or a contractor for an individual property owner and the restoration work involved is estimated to cost less than one thousand dollars ($1,000.00), the city may accept a cashier's check, a letter of credit or other form of surety.
2. If the permittee is an individual property owner or is a contractor for an individual property owner or more than one property owner and the restoration work involved is estimated to cost more than one thousand dollars ($1,000.00), the permittee shall secure either a license bond or a compliance bond in favor of the city in an amount determined by the city to cover the cost of the restoration work.
3. If the permittee is the owner of a utility or irrigation system, or a contractor to the owner of a utility or irrigation system, and the restoration work involved is estimated to cost less than five thousand dollars ($5,000.00), the permittee shall secure a compliance bond in favor of the city in an amount determined by the city to cover the cost of the restoration work. If the estimated cost of restoration work exceeds five thousand dollars ($5,000.00), the city may require the permittee to secure payment and performance bonds in favor of the city in such reasonable amounts as shall be determined by the city.
4. All primary and general contractors directly under contract to the city shall be required to provide performance and payment bonds in favor of the city in an amount equal to the contract amount.
5. A license bond and/or a compliance bond shall be issued by a surety company licensed in the state of Idaho with an A rating. Performance and payment bonds shall be issued by a surety company licensed in the state of Idaho with an A+ rating. (Ord. 210, 10-4-2005)