(A) The grantee shall, concurrently with filing of an acceptance of award of any franchise granted under this chapter, file with the Clerk of the Board of Supervisors and at all times thereafter maintain in full force and effect for the term of the franchise or any renewal thereof, at the grantee’s sole expense, a corporate surety bond in a company authorized to do business in the state and in a form approved by the District Attorney in the amount of $25,000, renewable annually and conditioned upon the faithful performance of the grantee and upon the further condition that in the event the grantee shall fail to comply with any one or more of the provisions of this chapter, or of any franchise issued to the grantee hereunder, there shall be recoverable jointly and severally from the principal and surety of the bond any damages or loss suffered by the county as a result thereof, including the full amount of any compensation, indemnification or cost of removal or abandonment of any property of the grantee as prescribed hereby which may be in default, plus a reasonable allowance for attorney’s fees and costs, up to the full amount of the bond; the condition to be a continuing obligation for the duration of the franchise and any renewal thereof and thereafter until the grantee has liquidated all of its obligations with the county that may have arisen from its exercise of any privilege therein granted. The bond shall provide that 30 days’ prior written notice of intention now to renew, cancellation or material change, be given to the county.
(B) Neither the provisions of this section, nor any bond accepted by the county pursuant hereto, nor any damages recovered by the city thereunder, shall be construed to excuse faithful performance by the grantee or limit the liability of the grantee under any franchise issued hereunder or for damages either to the full amount of the bond or otherwise.
(1966 Code, § 6A-21) (Ord. 312, § 21; Ord. 967, §§ 3, 4, 2018; Ord. 968, §§ 3, 4, 2018)