12.16.070 Bond:
All permits require a Street and Utility Construction Bond in the amount of one hundred fifty percent (150%) of the cost to replace existing improvements that may be disturbed as allowed by the Street and Utility Construction Permit, but no bond shall be approved for less than ten thousand dollars ($10,000). However, a bond is not required for permits that are issued to a legal property owner for sidewalk repairs or replacements that abut the legal property owner’s property. The bond shall be on forms provided by the city and shall be reviewed and approved by the City Attorney prior to issuance of the permit.
A. The bond shall contain the following declarations:
1. The bond guarantees that all persons who have provided or will provide labor and materials for the project will be paid by the permittee.
2. The bond guarantees all municipal improvements shall be constructed or reconstructed to original or better condition in accordance with the permit requirements.
3. The bond guarantees all work shall be completed within the time specified by the permit.
4. The bond guarantees all defects in workmanship or material that are discovered within two (2) years after the work is accepted by the city shall be repaired or reconstructed to the satisfaction of the Engineer.
B. The aforesaid bond initially shall be for a period of two (2) years and shall automatically renew each year unless notice of non-renewal is provided to the city. The obligation of such bond shall survive its cancellation or expiration for a period of two (2) years after acceptance by the city of all work for which such bond is given.
C. Whenever the Engineer determines that the amount of a bond is insufficient for additional permits, the Engineer may require a new or additional bond from the permittee. All new or additional bonds shall be in accordance with the aforementioned requirements. (Ord. 2507, 7/28/09; Ord. 2223, 8/9/05; Ord. 2049, 2/12/02; Ord. 946, 1980)