The following bonds may be required to accompany an application for a right-of-way use permit hereunder:
(A) Construction and maintenance. In cases where the estimated cost of the project shall exceed $5,000, the City Engineer may require a maintenance and construction bond to be filed with the application for a permit hereunder in an amount equal to 100% of the estimated cost of the project and conditioned that such work shall be done in accordance with the city's standard specifications and guaranteeing the same for a period of two years, thereafter the property owner shall maintain the improvement in a good and safe condition. Provided, however, for site plans and subdivision plats requiring the approval of a public works improvement plan, an improvement security meeting the requirements of § 151.08.002(F) of the development code shall be provided.
(B) Indemnity. The City Engineer shall have the authority to require an applicant to file a bond conditioned to protect and save harmless the city from all claims for damages or injury to persons and property sustained during the actual course of such alteration work.
(C) Exemptions. Utility companies serving the public through a franchise agreement with the city shall be exempt from posting bonds for construction. However, they must obtain the required permits.
(Ord. 2016-007, passed 12-8-16)