A permit holder may be required, prior to construction, to obtain a performance bond in a reasonable amount set by the village based upon the construction cost of the equipment to be installed in the rights-of-way and the extent of the disturbance of such rights-of-way. The performance bond shall ensure the permit holder's faithful performance of its construction obligations. The village may reduce or cancel the bond requirement when construction is completed.
(Ord. 2016-63, passed 12-12-2016)