Ordinance 2858-05 - Laserfiche WebLink

9.21. Construction Bond. (A) Prior to commencing any construction work exceeding One Hundred Thousand Dollars, Grantee shall provide a construction bond to ensure the faithful performance of its responsibilities under this Franchise and applicable law, including, by way of example and not limitation, its obligations to restore City Streets and other property. The amount of the construction bond shall be twenty-five percent of the construction cost. The construction bond shall be in a form and with a surety acceptable to the City's Risk Manager and City Attorney. Grantee shall pay all premiums or costs associated with maintaining the construction bond, and shall keep the same in full force and effect until the construction of the Open Video System shall have been completed and all restoration of public and private property shall have occurred regarding thereto. Thereafter, the construction bond shall be released, subject to the mutual written agreement of the parties. (B) The construction bond may be drawn upon by the City for any proper purpose under this Franchise or as otherwise provided by applicable law. (C) The City shall give Grantee written notice of any withdrawal under this subsection upon such withdrawal. Within seven (7) days following receipt of such notice, Grantee shall restore the construction bond to the amount required under this Franchise. Grantee's maintenance of the construction bond shall not be construed to excuse unfaithful performance by Grantee or to limit the liability of Grantee to the amount of the construction bond or otherwise to limit the City's recourse to any other remedy available at law or equity. (D) Grantee shall have the right to appeal to the City Council for reimbursement in the event Grantee believes that the construction bond was drawn upon improperly. Grantee shall also have the right of judicial appeal if Grantee believes the construction bond has not been properly drawn upon in accordance with this Franchise. Any funds the City erroneously or wrongfully withdraws from the construction bond shall be returned to Grantee with interest, from the date of withdrawal at a rate equal to the prime rate of interest as quoted in the Wall Street Journal. SECTION 10. EMERGENCY ALERT SYSTEM AND TECHNICAL STANDARDS 10.1. Emergency Alert Capability (A) If required by federal law or regulation, Grantee shall provide the City an operating Emergency Alert System ("EAS") so that the City may use the Open Video System to transmit an emergency alert signal. (B) The City shall permit only appropriately trained and authorized persons to operate the EAS equipment provided pursuant to this subsection. (C) Grantee shall ensure that the EAS is functioning properly at all times. It will test the EAS periodically, in a manner consistent with sound operational practices for emergency systems. Grantee will advise the City of the testing schedule and the City may be present for the tests. 19