§ 7-1.228. Bonds: Insurance certificates.

In lieu of the general cash deposit required by the provisions of Section 7-1.226 of this article, the Director of Public Services may accept from an applicant for the permits required by the provisions of this chapter other types of security as follows:

(a)

Surety bonds. The Director of Public Services may accept a surety bond in a sum not less than One Thousand and no/100ths ($1,000.00) Dollars on a form supplied by him and executed by a corporation authorized to engage in surety undertakings in the State. Such bond shall guarantee the payment of all the fees and other charges required by the provisions of this chapter which may become due because of any permits issued during the life of such bond.

(b)

Instruments of deposit. The Director of Public Services may accept a certificate of deposit or passbook made payable to the order of the City in lieu of a surety bond.

(c)

Insurance certificates. Repealed.

(d)

Increase of security. The Director of Public Services may require any type of security that has, in his opinion, become insufficient for the protection of the public interests to be increased to such an amount as he has determined will be sufficient to protect the public interests. He may require special deposits or other security.

(§§ 12229 and 12229-1 through 12229-4, S.V.M.C., as amended by § 1, Ord. 764, eff. December 19, 1991)