§ 30-58. Insurance and bond.

(a)

Whenever this Code requires a licensee, permittee, applicant, franchisee, contractor, or any other person or entity to obtain and maintain a bond and/or policies of insurance, the requirements and conditions of any such bond or insurance shall be those as are on file in the office of the city clerk and which have been approved by the city commission as follows:

(1)

Thirty days prior to the filing with the city clerk, the city manager shall submit his proposed bond or insurance requirements and conditions to the city commission for its review.

(2)

Within the 30 days, the commission shall either take no action upon the manager's proposed requirements; in which case, they shall become effective when filed with the city clerk; or the commission may approve, alter, amend or revise the manager's proposal; in which case, the proposal, as approved, altered, amended or revised, shall, when filed with the city clerk, become the bond or insurance requirements and conditions.

(3)

If any licensee, permittee, applicant, franchisee, contractor, or any other person or entity required to obtain and maintain a bond and/or policies of insurance by this Code fails to do so, the license, permit, franchise, grant, contract, activity or other authority shall be suspended during the period of noncompliance.

(b)

The requirements of this section shall be in addition to any other requirements set forth in any law, statute, ordinance, rule, regulation, resolution, policy, contract or agreement.

(Code 1970, § 26-7)