Every applicant under the provisions of this article shall, together with its application for the franchise hereunder, and acceptance of the terms and conditions of this chapter, file with the City Clerk a U.S. Treasury Department approved corporate surety performance bond in the amount of $25,000, which will be discharged and released in case of the completion and installation of the system as herein required within 18 months after the date of commencement of construction; provided, the licensee commenced construction within 120 days or completion of pole agreements, whichever is of the latest date, and shall have completed the construction of the system and is offering wired or cabled television or radio service to not less than 100% of the land area within the existing corporate limits of such city as of the effective date of the grant of each respective franchise, within 18 months; further provided, the preparations of the proposed system shall constitute the starting or commencement of construction hereunder; and, further provided, a map of such basic survey shall be filed with the City Administrator within such 120 days or after completion of pole agreements, whichever is the latest date.
(2005 Code, § 13-703)