The grantee shall file with the city a construction bond in
the amount specified in the franchise ordinance within thirty days
prior to the commencement of any construction work by the grantee.
The construction bond shall be in the form approved by the city attorney,
which approval shall not be unreasonably withheld if the bond is in
a form consistent with the usual custom and practice of the industry.
(Ord. 1598 § 1, 1992)
If required under the franchise ordinance, the grantee shall,
at least forty-five days after the effective date of the franchise
ordinance, file with the city a performance bond in the amount specified
in the franchise ordinance and in the form approved by the city attorney.
The city, in its sole discretion, may permit consolidation of the
performance bond with the construction bond and letter of credit specified
in this chapter.
(Ord. 1598 § 1, 1992)
Remedies provided for in this chapter are cumulative and in
addition to other rights the city may have at law or equity or under
the franchise, which it may exercise at any time, save and except
that collection of liquidated damages shall be in lieu of any claim
for actual damages. In no event shall the amount of any bond or letter
of credit be construed to limit the grantee's liability for damages.
(Ord. 1598 § 1, 1992)
Each franchise ordinance shall contain a liquidated damages
provision in connection with the construction, rebuild or reconstruction
of the cable television system. Liquidated damages due the city shall
be a proper charge against the letter of credit, or other security
specified in the franchise ordinance, to the extent grantee does not
pay such damages when due following due notice and opportunity to
cure as provided under this chapter.
(Ord. 1598 § 1, 1992)