(A) Security requirements. Except as provided by this chapter, a pay phone permit cannot be issued and a use agreement cannot be executed for pay phones installed on public property unless and until the permittee obtains and provides the city a surety bond or other security guaranteeing permittee's performance of all duties and obligations under such permit including, in particular, the duty and obligation to remove the pay phone in the event a permit is revoked or as otherwise required.
(B) Amount of security. The surety bond or other security obtained and provided by a permittee will be in the amount of at least $500 except when the administrator.
(C) Form of security. The permittee's surety bond must be in a form approved by the City Attorney and be conditioned upon the duties and obligations contained in the permit and set forth in this chapter. In lieu of a surety bond, a permittee may obtain and provide to the city a cash deposit, certificate of deposit naming the city as the payee thereof or such other kind of security acceptable to the City Attorney.
(Ord. 1099, passed 4-19-04)