No such permit shall be issued unless the applicant has also filed with the City Clerk-Treasurer a bond with a lawful corporate surety or an indemnity insurance policy, in the sum of not less than $20,000 conditioned to indemnify and hold the city harmless against any and all claims or injury or damage to persons or property resulting from the performance of work contemplated or any act done pursuant thereto, or against any loss or liability resulting from the maintenance of any such cable, wire, conduit or other attachments or equipment so installed. Such bond shall be a continuing blanket bond for a period of one year from the time the work is completed. However, the City Street Superintendent shall have discretion of requiring a specific larger bond for larger projects on a per project basis.
(Ord. 00-09, passed 7-3-00; Am. Ord. passed 2-20-01; Am. Ord. 2016- 07, passed 4-14-16)