a. The Planning and Development Director shall require each applicant referred to in this section, before granting the permit, to deposit with his office an amount in cash or a surety bond equal to the cost of the work (as determined by the Planning and Development Director) proposed in the application as a guarantee that the work will be done in accordance with the permit and City details and specifications. He shall give the applicant his receipt for such deposit.

b. The surety bonds shall be executed by the applicant as principal, with a corporation duly authorized to transact surety business in the State of Arizona. The bond shall be in favor of the City, shall be continuous in form, and shall be conditioned that the total aggregate liability of the surety for all claims shall be limited to the face amount of the bond irrespective of the number of years the bond is in force. The bond shall be released upon satisfactory performance and acceptance of the work, or may be cancelled after the applicant has provided other security satisfactory to the City which will cover obligations that remain.

c. No deposit shall be less than ten dollars on work done under this Article.

d. In instances where an applicant is issued numerous small permits throughout the year, he may post a continuing bond to cover work of more than one permit. However this continuing bond provision is not intended for use on new subdivision type work. The continuing bond shall be of a value sufficient to cover all work under construction by the permittee at any time and shall be satisfactory to the Planning and Development Director.

e. The bond is subject to cancellation as noted above, or may be terminated after all obligations are fulfilled which were "permitted" prior to the Planning and Development Director receiving cancellation notice from surety.

f. This bond or cash deposit shall not be required where the improvements and the cost of the work proposed in the application and required by this chapter are also covered by the enforcement procedure set forth in section 32-37(a) of the Subdivision Ordinance. If, however, the Planning and Development Director finds that the provisions of 32-37(a) are not being complied with, then the suspension of the bond or cash deposit as a condition of a permit provided for in this subsection shall no longer apply, and the applicant shall comply with bonding provisions set forth in this section. (Code 1962, § 35-52; Ord. No. G-730, § 1; Ord. No. G-902, § 1; Ord. No. G-2692, § 1; Ord. No. G-3313, § 1; Ord. No. G-3253, § 1, 2000; Ord. No. G-5590, § 1, 2011)