The Director of the Office of Administrative and Research Services, with the concurrence of the City Controller, shall report to the City Council whenever performance security required pursuant to Section 4.288(a) is commercially unavailable or the cost is not compatible with the benefit to the City, necessitating the need for the City to either partially or fully self insure the required performance security.
SECTION HISTORY
Based on Ord. No. 68,253.
Amended by: Ord. No. 88,135; Ord. No. 149,965, Eff. 8–22–77; Title and section, Ord. No. 166,858, Eff. 5-6-91; Ord. No. 173,308, Eff. 6-30-00, Oper. 7-1-00.