Industrial customers shall provide a surety bond, issued by a surety corporation licensed to do business in the State of Oklahoma, in sufficient amount to indemnify the Utilities Authority against loss due to business failure or bankruptcy. Such bond shall be renewed annually as of May 1. Bond amount shall be determined by industry standards as established use patterns determined by the General Manager of the Jay Utilities Authority. The inability to effect payment on any sixty (60) day delinquency, the occurrence of business failure or the filing of any bankruptcy shall constitute cause to move against such bond. (Ord. 291, 6-2015)