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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) Fails to reimburse the City for any damages, c aims, costs or expenses <br /> which the City has been compelled to pay or incu by reason of any action <br /> or non-performance by the permittee; or <br /> (d) Fails to comply with any provision of this Cha ter that the City <br /> determines can be remedied by an expenditure o an amount in the <br /> Security Fund. <br /> E. Replenishment. Within fourteen (14) days after rece pt of written notice from <br /> the City that any amount has been withdraw�► from the Securit Fund, the permittee <br /> shall restore the Security Fund to the amount specified in this ection. <br /> F. Interest. The funds deposited shall be placed in a n n-interest bearing <br /> account. <br /> G. Closing and Return of Security Fund. Upon comple ion of the work <br /> authorized under the permit, the permittee shall be entitled to t e return of the Security <br /> Fund, or such portion thereof as remains on deposit, within a r asonable time after <br /> account is taken for all offsets necessary to compensate the C ty for failure by the <br /> permittee to comply with any provisions of this Chapter or oth r applicable law. In the <br /> event of any revocation of the permit, the Security Fund, and ny and all accrued I <br /> interest therein, shall become the property of the City to the e tent necessary to cover � <br /> any reasonable costs, loss or damage incurred by the City as result of said '' <br /> revocation, proyided that any amounts in excess of said costs loss or damage shall be <br /> refunded to the permittee. <br /> 27 <br />
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