(a) The Board may accept, in lieu of the cash deposit, a guaranty agreement signed by a financially responsible guarantor, whereby payment of a specified sum, not exceeding the cash deposit aforesaid, is guaranteed. The guarantor may, upon request, receive copies of disconnection notices sent to the customer whose account has been guaranteed. Provided, however, that the limitations herein fixed upon the terms of a guarantee agreement shall not apply to industrial customers.
(b) The term of the guaranty agreement shall be indeterminate, but it shall terminate when the customer gives notice to the Board of discontinuance of service at the location covered by the guaranty agreement, or six months after discontinuance of service where no notice was given, or at the guarantor’s request upon thirty days’ written notice to the Board. Upon termination of a guaranty agreement, or whenever the utility deems the same insufficient as to amount of surety, a cash deposit or a new or additional guaranty may be required upon reasonable written notice to the customer.
(Ord. 2003-04-05. Passed 8-10-05.)
(Ord. 2003-04-05. Passed 8-10-05.)