The Franchisee shall provide a performance bond with sureties acceptable to the City in the amount of seventy–five thousand dollars ($75,000) in favor of the City, conditioned upon the faithful performance of the construction and installation of cable services to the City, and shall include protection of the City from all liens and damages arising out of the work. Upon completion of the cable system, the City shall authorize cancellation of the bond.
(Ord. 52.  Passed 6-13-88; Ord. 100.  Passed 12-8-03.)