(A) Where, in the opinion of the Highway Superintendent, the improvements may impact county improvements in the right-of-way, a permit bond for the estimated cost of the impact shall be provided to the Highway Department. The bond shall be submitted and approved prior to issuance of a permit.
(B) The permit bond shall be obligated such that the applicant will well and faithfully do and perform the things to be done and performed according to the terms of the permit and to the satisfaction of the Highway Superintendent and shall pay all lawful claims of the contractor, vendors and laborers for labor performed and materials furnished, or other services rendered in the carrying forward, performing and completing of the permit.
(C) The standard bond amounts shall be as set forth in the schedule of bonds for the Owen County Highway Department as approved by the Owen County Commissioners.
(D) The Highway Superintendent may allow utilities intending to file for multiple permits to have an annual permit bond for utility work in the county right-of-way in an amount acceptable to the Highway Superintendent. The minimum annual permit bond amount requirement is $25,000. The annual permit bond shall be written so that it covers all contemplated projects within Owen County and automatically renews, unless the surety gives the Highway Superintendent a written notice 60 days prior to the annual expiration date. An annual permit bond cannot be used for drive or public road approach permits.
(E) The Highway Superintendent shall have the authority to develop bond forms and to approve bonds received for improvements.
(F) Prior to the release of any permit bond, the Highway Superintendent will require an inspection to determine the completion of construction according to the terms of the permit and to the satisfaction of the Highway Superintendent.
(G) At the discretion of the Highway Superintendent, a maintenance bond may be required from an applicant as a condition of approval or as a condition of releasing the permit bond. A utility company having certificate of authority or franchise issued by the Indiana Utility Regulatory Commissioner and who has a continuous bond on file with the Owen County Highway Department may be used in lieu of the maintenance bond when approved by the Highway Superintendent.
(H) Prior to the release of a permit bond issued for the cutting of a road, the applicant shall post a three year maintenance bond which cannot be canceled prior to three years from the completion of the road cut.
(I) If the bond company sends notice that the bond is being canceled at any time prior to the completion of the condition for which the bond is obligated, the total amount of the bond shall become immediately due and payable to the Owen County Board of Commissioners. If a maintenance bond is not submitted upon completion of the work, the total amount of the permit bond covering the work will become immediately due and payable to the Owen County Board of Commissioners and no additional permits will be issued to the applicant.
(Ord. 2020-0056, passed 11-2-2020)