§ A279-13. Bonds; agreement to repair or restore roads.

A. 

During the construction associated with the upgrade, the company shall increase its surety bond to the municipality, which bond shall be in the statutory form, except that the bond shall be in the amount of $100,000. The purpose of the increased amount of the bond is to insure completion of the upgrade as described in the application.

B. 

After completion of the upgrade and for the remainder of the term of the franchise, the company shall give a bond to the municipality, which bond shall be in the statutory amount of $25,000. Such bond shall be to insure the faithful performance of all undertakings of the company as represented in its application and incorporated herein.

C. 

In addition to the bond, the company specifically agrees that it will respond, either directly or through a subcontractor, within 48 hours of a written complaint from the municipality that a road repair or restoration is necessary. In the event that the company fails to respond timely and make the necessary repair or restoration, the municipality may, in its discretion, consider such failure a breach of this ordinance and the company's certificate of authority and may recommend to the Board that the Board take action against the company, including but not limited to ordering the repair or restoration, fines and such other action as the Board deems appropriate.