§ 78-187. Bond.

(a)

Before a municipal contractor's license is granted by the engineering department, the applicant shall provide protection to the city against the use of inferior material and performance, including damages occurring as a result of willful disregard of this Code and city regulation requirements, by posting a one year municipal contractor's license bond, on city-prepared forms, with a warranty period of up to two years, in the principal amount of $20,000.00.

(b)

Notwithstanding any language in section 78-298, the director may waive posting of a cash, escrow, or letter of credit by a rights-of-way permittee who, as owner/occupant, constructs a single-family dwelling on a single parcel of land.

(Code 1960, § 7-51; Code 1981, § 27-173; Ord. No. 2381, § 1, 1-5-1987; Ord. No. 3319, § 1, 12-18-1996; Ord. No. 3500, § 1, 1-4-1999; Ord. No. 3725, § 2, 10-22-2001)