§ 13-701  SECURITY FUND.
   (A)   At the time a franchise is accepted and at all times thereafter until the licensee has liquidated all of its obligations with the city, the licensee shall furnish a security fund approved by the city in such amount as the city deems to be adequate compensation for damages resulting from the licensee’s non-performance.
   (B)   The city may, from year to year, in its sole discretion, reduce the amount of the security fund. The amount of the security fund shall be as set forth in a franchise agreement.
(2005 Code, § 13-701)