(A) Annual fees shall be determined from time to time.
(B) The following schedule of performance bonds shall be required:
Size (in feet) | Footage (in square feet) | Performance Bond Equal to One-Year Permit Fee to be Deposited with the Village |
6 x 12 | 72 | $72 |
12 x 24 | 288 | $288 |
14 x 48 | 672 | $672 |
20 x 40 | 800 | $800 |
20 x 60 | 1,200 | $1,200 |
(B) No person shall receive a permit to erect, install, remove or rehang any billboard under the provisions of this subchapter unless he or she files with the Village Clerk a liability insurance policy covering all damage or injury that might be caused by each of the billboards or a certificate of insurance therefor issued by an insurance company authorized to do business in the state and satisfactory to the Village Clerk with limits of liability of not less than $50,000 for the property damage and $300,000 for personal injuries. The village, its officers, agents and employees shall be named as additional parties insured. The liability insurance policy or indemnity bond shall be in force for the year and will coincide with the time of the permit herein.
(C) To renew the permit after one year, the applicant shall be required to submit to the Village Clerk a certificate of renewal of the liability insurance for one year.
(D) In lieu of insurance, the applicant may file an indemnity bond with a corporate surety satisfactory to the Clerk in an amount of $300,000, which will provide the principal and surety will indemnify and hold harmless the village, its officers, agents and employees from all claims, loss or suits resulting from any billboard.
(E) The obligation set forth in division (D) above shall remain in force and effect during the life of every billboard and shall not be canceled by the principal or surety until after 30 days’ notice to the office of the Clerk.
(Prior Code, § 110.057) (Ord. 86-7, passed 1-12-1987) Penalty, see § 110.999