In lieu of a bond of performance or assurance required for each permit issued under
the performance/assurance bond section of this article, the applicant may maintain
a one-time bond of performance or assurance with the director the sum of one hundred
thousand dollars ($100,000.00) for the purposes specified in section 29-174, and shall have on file, in the city clerk's office, an approved bond of performance
or assurance in like amount, being then in full force and effect, against which claims
shall not have been presented aggregating more than one hundred thousand dollars ($100,000.00);
provided, further, that section 29-174 shall not apply to applications for permits to make cuts, openings or excavations
in any street, plaza or other public place paved under contract with the city, unless
the contract of maintenance and the maintenance bond therefor shall have expired.
The bond shall be maintained until the applicant is no longer working in or on city
streets.
(Ord. No. 93319, § 1, 1-25-01)
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