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2007-48 AMENDING CITY CODE - CHAPTER 41.1 - CONSTRUCTION STANDARDS OF FACILITIES, PUBLIC RIGHTS-OF-WAY
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2007-48 AMENDING CITY CODE - CHAPTER 41.1 - CONSTRUCTION STANDARDS OF FACILITIES, PUBLIC RIGHTS-OF-WAY
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10/19/2015 11:03:07 AM
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Resolution/Ordinance
Res Ord Num
2007-48
Res Ord Title
AMENDING CITY CODE - CHAPTER 41.1 - CONSTRUCTION STANDARDS OF FACILITIES, PUBLIC RIGHTS-OF-WAY
Approved Date
6/4/2007
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(c) The payment by permittee of all liens and all d mages, claims, costs, <br /> or expenses that the City may pay or incur by rea on of any action or non- <br /> performance by permittee in violation of this Cha ter including, without <br /> limitation, any damage to public property or resto ation work the permittee <br /> is required by this Chapter to perform that the Cit must perform itself or <br /> have completed as a consequence solely of the ermittee's failure to <br />� perform or complete, and all other payments due he City from the <br /> permittee pursuant to this Chapter or any other a plicable law. <br /> B. Form. The permittee shall provide the Security Fund o the City in the form, at <br /> the permittee's election, of cash, a surety bond in a form accep able to the City, or an <br /> unconditional letter of credit in a form acceptable to the City. A y surety bond or letter <br /> of credit provided pursuant to this Subsection shall, at a minim m: <br /> (a) Provide that it will not be canceled without pri r written notice to the , <br /> City via certified mail and the permittee; <br /> (b) Not require the consent of the permittee prior o the collection by the ', <br /> City of any amounts covered by it; and '� <br /> (c) Shall provide a location convenient to the City and within the State of <br /> Illinois at which it can be drawn. <br /> C. Amount. The dollar amount of the Security Fund sh II be su�cient to provide <br /> for the reasonably estimated cost to restore the right-of-way to at least as good a <br /> , condition as that existing prior to the construction under the pe it, as determined by <br /> the Director of Engineering & Infrastructure, and may also incl de reasonable, directly <br /> � 25 <br />
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