Prior to the issuance of any right-of-way construction permit, the public works director, or his designee, shall determine the amount of the performance bond or other acceptable form of security necessary to assure compliance with the approved construction plans, including restoration plans, and all applicable city and state regulations and standards, and to assure the health and safety of the users of the city street or right-of-way. The amount of the bond or other acceptable form of security shall be one hundred twenty-five percent of the estimated cost of the project. The applicant shall submit the bond by an approved surety, or other acceptable form of security, in the mount indicated. The performance bond or other acceptable form of security shall remain in full force and effect and shall not be released until two years after the right-of-way construction is completed and accepted by the public works director, or his designee. Construction work undertaken by the city, or under contract to the city, or requested by the city, shall be exempt from this requirement.
(Ord. 1745 § 7, 1994; Ord. 1850 § 3, 1996)