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1311.21 RIGHT OF WAY IMPROVEMENTS; BOND REQUIRED; INSURANCE.
Any person, firm or corporation, except any subdivision of the State or public utility, which has been authorized by the Municipality to perform contracting work in, upon or under the Municipal rights of way for the construction of sewer lines, water lines or any other type of construction work, shall post with the Municipality a performance bond guaranteeing that such work shall be completed in a satisfactory manner as approved by the City Engineer. The amount of such bond shall be determined in the following manner:
(a) Construction cost as estimated by the City Engineer up to twenty thousand dollars ($20,000); cash in the amount of ten percent (10%), except in the case of sidewalk construction where the bond required shall be as follows:
(1) For all new sidewalk construction, cash in the amount of ten percent (10%) or five hundred dollars ($500.00) whichever is greater;
(2) For replacement of sidewalks, or any portion thereof, in residential districts, cash in the amount of ten percent (10%); and
(3) For replacement of sidewalks, or any portion thereof, in districts other than residential, cash in the amount of ten percent (10%) or five hundred dollars ($500.00), whichever is greater.
(b) Construction cost as estimated by the City Engineer in excess of twenty thousand dollars ($20,000); cash or a surety bond in the amount of five percent (5%).
(c) Thirty days after such construction work has been completed and has been approved by the City Engineer the Director of Finance shall cause such cash performance bond to be refunded to the principal, and in the case of the surety performance bond, shall cause to be released both the principal and the surety from the provisions thereof.
(d) All such construction work contemplated herein shall be completed within ninety days from the date authorized, unless extended by written approval of the City Engineer.
In addition to the foregoing, the person, firm or corporation authorized to perform such work within the Municipal right of way shall provide an insurance policy endorsement to the Municipality of liability insurance coverage in the amount of three hundred thousand dollars ($300,000) and five hundred thousand dollars ($500,000) coverage for injury to persons, and one hundred thousand dollars ($100,000) coverage for damage to property.
(Ord. 34-2020. Passed 12-8-20.)