1955 ORD NO. 875 - Laserfiche WebLink

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20 necessary by the Superintendent of Streets to satisfy the said official that the party making the application has the right, authority and qualifications to file the same and to .make to excavation cut or fill as requested. Section VII. Surety Deposits, Bonds, Policies, etc: That upon the approval of any such application for permit as stated hereinbefore, the Superintendnet of Streets shall prior to the issuance of any permit there- fore require any such applicant to deposit with the City of Colton: (a) Cash, certified check, cashier's check or a surety bond approved. by the City of Colton, in favor of the City of Colton in an amount equal to the cost as estimated by the Superintendent of Streets to cover the cost of repairing and restoring the street or highway in such manner as to place the same as near as possible to its condition as existing immediately prior to such excavation cut, and said deposit shall be considered as a guarantee that such work will be properly completed and shall be retained by the City and not returned unless the said work shall be completed as provided herein and if not so completed the City may and is hereby authorized to use same or any part thereof to complete said work and charge the entire cost thereof against said deposit and/or said bond and/or the applicant: . (b) Public Liability Policy issued by a reliable insurance company approved. by the City of Colton with limits of $5, 000. 00/$10, 000. 00 personal and $1, 000. 00 property damage or equivalent cash, certified check or cashier's check in favor of the City of Colton to cover such liability and to insure the City of Colton from any and all liability of every nature what- soever connected directly or indirectly with any such work. (c) That should the applicant be a regular licensed Public Uti li t y Company operating within the City li mits of t he City of Colton or such other financially reliable person, firm or corporation whom the Superintendent of Streets may determine, upon investigation, to have sufficient clear assets within the City of Colton to be more than sufficient to cover the deposits, bonds, and guarantees provided for herein, then and in that event, the said Superintendent of Streets may waive all or part of any such requirements as provided herein upon such terms and conditions as may lie reasonably provided; however, any such waiver shall not re- lease any such party from any or all liability upon any of the obligations provided herein. Section VIII. Work Requirement s: Upon complying with all of the requirements stated herein the Superintendent of Streets shall thereupon issue to the applicant a permit to proceed with the work as requested in