The franchise holder, prior to the beginning of performance under the franchise, shall furnish to the city a performance bond with corporate surety in an amount of at least $100,000. The limit of liability on such performance bond shall be subject to increase by the City Commission on the basis of any increase in the cost of rendering the services authorized by the franchise and on the basis of any increase in the volume of business under the franchise. The franchise holder shall obtain, and maintain throughout the term of the franchise, worker's compensation insurance, and general and automobile liability insurance with minimum limits if at least $500,000 for the injury of any one person, $2,000,000 for injury to all persons as the result of any occurrence, and $250,000 for property damage resulting from any one occurrence. Proof of insurance shall be given to the city each year of the franchise per the contract. The franchise holder shall hold the city harmless and indemnify the city from any liability, loss or damage for the actions of the franchise holder or its agents and employees, including payment to the city of any attorney's fees, court costs or expenses incurred by the city as a result of the franchise holder's actions. Without waiving any rights of the city thereto, the enforcement of the terms of the franchise rests with the franchisee. The city shall be named as an additional insured on the franchise holder's policy, and shall give the city 60 days advance written notice if any change in insurance occurs during the franchise.
(Ord. 06-005, passed 11-7-2006; Am. Ord. 2011-004, passed 6-15-2011)