Courtenay : Règlement no 1926, art. 75 — As a prerequisite to the issuance of a permit under this section, the applicant shall, if required by the Director, deposit with the City a sum of money, or irrevocable letter of credit from a chartered Bank of Canada in the amount of $500.00, to secure payment of the cost of repairing any damage done to the highway and the fulfilment of the obligations imposed by the permit within the time specified by the permit
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As a prerequisite to the issuance of a permit under this section, the applicant shall, if required by the Director, deposit with the City a sum of money, or irrevocable letter of credit from a chartered Bank of Canada in the amount of $500.00, to secure payment of the cost of repairing any damage done to the highway and the fulfilment of the obligations imposed by the permit within the time specified by the permit.
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- 73 The applicant shall provide evidence satisfactory to the Director that the applicant is insured against all claims for damages for personal injury and property damage which may arise out of the performance of the work covered by the permit, in an amount not less than $5,000,000.00 for each occurrence and if the cost of the work as estimated by the Director exceeds $50,000.00, the City shall be added to the policy as co-insured
- 74 The applicant shall provide evidence satisfactory to the Director that all materials, labour, and equipment which are needed to complete the work with reasonable dispatch are available
- 76 Where a deposit has been made in accordance with this section, and upon satisfactory completion of the work within the time specified, the deposit shall be refunded to the applicant, less an inspection fee of $100.00
- 77 Failure by the permit holder to repair damage or fulfil the obligations that have been imposed under the terms and conditions of the permit, or pay maintenance, shall result in the application of the amount of the deposit of letter of credit to offset such damage or unfulfilled obligations or maintenance and should there be an insufficiency of security, the holder of the permit shall pay the balance forthwith upon invoice of the City
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