Before an excavation permit is issued under this chapter, the applicant shall deposit with the Director of Public Service proof of a minimum of five hundred thousand dollars ($500,000) general liability insurance. In addition, such applicant shall also provide a cash deposit, surety bond or performance bond in an amount determined by the Director, but no less than 150% of the estimated contract costs, payable to the City. The general liability proof of insurance and required surety or performance bond each must be:
(a) With a good and sufficient surety;
(b) By a surety company authorized to transact business in the State of Ohio;
(c) Satisfactory to the City Solicitor in form and substance; and
(d) Conditioned upon the permittee's compliance with this chapter and to secure and hold the City and its officers harmless against any and all claims, judgments or other costs arising from the excavating and other work covered by the excavation permit or for which Council or any City officer may be made liable by reason of any accident or injury to any person or property through the fault of the permittee, either in not properly guarding the excavation or because of any other negligence of the permittee, and further conditioned on the filling up, restoring and placing in a good and safe condition, as near as possible to its original condition, any excavation made in any street, and further conditioned on the maintenance of any street where an excavation is made, in as good a condition, for a period of twenty-four months after such work has been done, usual wear and tear excepted, as it was in before such work had been done. Any settlement of the surface within such two-year period shall be deemed conclusive evidence of defective backfilling by the permittee. Nothing contained herein shall be construed to require the permittee to maintain any repairs to pavement made by the City if such repairs should prove defective. Any owner of real estate repairing or engaging another to repair his or her own sidewalk shall not be required to give such bond. Recovery on such bond for any injury or accident shall not exhaust the bond, but it shall, in its entirety, cover any or all future accidents or injuries during the excavation work for which it is given. In the event of any suit or claim against the City by reason of the negligence or default of the permittee, upon written notice given by the City to the permittee of such suit or claim, any final judgment against the City requiring it to pay for such damage shall be conclusive upon the permittee and his or her surety. An annual bond may be given under this section, which shall remain in force for one year, conditioned as above, in the amount specified above and in other respects as specified above, but applicable as to all excavation work in streets by the principal in such bond during the term of one year from such date.
(e) Public utilities operated under the supervision of the Public Utilities Commission, public utilities holding a franchise from the City, City departments and other governmental agencies may be relieved of the obligation of submitting such insurance or performance bond by the Director of Public Service.
(Ord. 80-2004. Passed 6-28-04.)