§ 116.04  PAYMENT OF SECURITY DEPOSIT.
   (A)   If the activities described in the permit are to occur on public property, the applicant shall make a deposit of up to $7,500 as required by the Town Manager prior to issuance of a permit along with a Certificate of Insurance with policy amounts satisfactory to the town.  Additional requirements will be based on the overall impact production may have on public property.  The deposit required under the provisions of this section shall be paid in cash or by certified funds or bank check payable to the town.  Such deposit shall be delivered to the town at the time the application described in this chapter is delivered.  The application required in accordance with the terms of this chapter shall be considered incomplete and shall not be considered by the Town Manager until and unless the deposit, as required herein, is made.
   (B)   In the event the production company damages any public property in the course of carrying out its activities, the town may use the deposit described herein for the purpose of repairing such damages.  Further, to the extent the town incurs costs which result solely from the activities pursuant to the permit and the production company fails to reimburse the town for such costs, then the town shall be permitted to utilize the deposit for payment in whole or in part of such expenses.  Provided, however, that the giving of the deposit and use thereof as described in this section shall in no way limit the town's rights to recover from the production company for any loss, claim or damage resulting from the activities undertaken by the production company.
   (C)   Upon completion of the activities pursuant to the permit, the deposit shall be returned to the production company in the event there is no damage or loss resulting from the activities of the production company pursuant to the permit.  No refund of deposit will be made until appropriate clearance has been received from the Town Manager or his or her designee.
(Ord. 1216, passed 8-26-93; Am. Ord. 1378-A, passed 4-26-01)