(A) A financial institution that is required to have a security/fire alarm system pursuant to the provisions of the Bank Protection Act of 1968 (12 U.S.C., Section 1882) may install, with the permission of the Director, a signal line directly to the Police Department for the purpose of reporting burglaries and robberies. In such an arrangement, all other requirements of this chapter must be met. The financial institution shall execute a letter of agreement with the city permitting the installation of all necessary equipment of an indicator panel monitored in the communications division of the Police Department. The installation must be accomplished at the institution’s expense.
(B) The financial institution shall pay an annual fee to be determined for each indicator. The Director shall have the right, at reasonable times and upon oral notice, to inspect the alarm system at the alarm site and require necessary repairs or improvements. If the Director finds the alarm system continually fails to operate properly, or to be operated improperly, he may terminate the privilege to have equipment and indicators in the communications center of the Police Department and require prompt removal of the equipment at the expense of the financial institution.
(C) The financial institution, at its own expense, shall make arrangements to provide service for the alarm system on a 24-hour basis, seven days a week. In no event shall the city become liable for charges for repairs or maintenance.
(D) The financial institution may cancel its agreement with the city at any time by giving the city written notice through the Director, and at its own expense, remove its own equipment and indicators from the monitor panel in the communications center.
(E) The Director may require any change, modernization, or consolidation of alarm signaling equipment that he/she deems advisable. In no event shall the city become liable for charges for these changes.
(F) Instead of a direct line, a financial institution may report burglaries and robberies by transmission through an alarm reporting service using special equipment designated by the Director.
(Ord. 080916E, passed 9-26-2008)