Annual Bond Requirements

1. Indemnifying Bond or Certificate of Insurance. Before a work permit is issued as herein provided, the applicant shall deposit with the City an indemnifying bond payable to the City, or file a certificate of insurance in favor of the City in such amounts of not less than $100,000.00 for any one person killed or injured, $300,000.00 for total liability for all persons killed or injured in one accident and $50,000.00 for any property damage incurred as a result of an accident.
A. The indemnifying bond or certificate of insurance shall indemnifying and save harmless the City, its officers, employees, agents and representatives against any and all damages, claims, losses, demands, judgments, actions or causes of actions, including payments made under the workmen's compensation laws and any costs including attorney fees arising out of or in connection with the excavation or tunneling and other works covered by the excavation work permit or for which the City, City Council, or any City officer, employee, agent or representative may be held liable by reason of any accident or injury to any person, including the work permit holder, its agents or employees, or any property through the fault of the work permit holder, its agents or employees, either in not properly guarding the excavation or the maintenance of the excavation or for any other injury resulting from the negligence, wrongful acts, faults or misconduct on the part of the work permit holder, its agents or employees.

B. The City, the City Council, and its agents, employees or representatives shall not be liable nor share any cost incidental to the removal, reconstruction or relocation of any structure or facility of a work permit holder or any person or of any utility placed in any public place, public rights­-of-way or public easement, in the exercise of any power the City, the City Council or any officer of the City now has or which may hereafter be authorized or permitted by the laws of the State.

C. In addition, if the City, through its City Council, elects to alter or change the grade of any street, alley, or public way, work permit holder shall, upon reasonable notice by the City, remove, or relocate any substructure or facility at work permit holder's expense.

D. An annual indemnifying bond and certificate of insurance for a specified period given under this provision shall remain in full force and effect during the period specified in the application to cover all excavation work in public places or public rights-of-way.

2. Security Deposit or Annual Bond. The application for a work permit to perform work under this chapter shall be accompanied by a $10,000.00 security deposit or annual bond made to the City and submitted to the Director of Finance. The City may use any or all of this amount to pay the cost of any work the City performs to restore or maintain the public place or public rights-of-way as herein provided in the event the work permit holder fails to perform such work, in which event the work permit holder will not be issued any more work permits until the security deposit or annual bond is again reinstated. Use of the security deposit or annual bond by the City shall not affect the City's right to issue a municipal infraction or charge a work permit holder with a simple misdemeanor.

3. Refund of Security Deposit. Upon the Public Works Director's receipt of written application by the work permit holder, all security deposits shall be refunded by the City to the work permit holder upon completion of the work. This does not remove the responsibility of the work permit holder to complete the work as required in this chapter; actual completion shall be determined by the Public Works Director.