262 Amending Ord. 211 (Increasing Bond)

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ORDINANCE NO. 262 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF ZEPHYRHILLS, FLORIDA, AMENDING ORDINANCE NO. 211 ; AMENDING SECTION 5(e), INCREASING THE PERFORMANCE BOND TO $10,000.00 AND RE— QUIRING THE POSTING OF THE BOND WITHIN THIRTY (30) DAYS AFTER ACCEPTANCE OF THE FRANCHISE; AMENDING SECTION 10, INCREASING ALL RATES; AMENDING SECTION 12, BY ADDITION OF SUBPARAGRAPH (b)SHALLPINVNOING EVENTAT EXCEEDATWOT(2)SBY SERVICETSR DROP TO ANY ONE (1 ) BUILDING, AND INSIDE WIRING AND REQUIRED EQUIPMENT BE INSTALLED ON A TIME AND MATERIAL BASIS, PLUS TEN PERCENT (10%) ; AND PROVIDING FOR A PUBLIC HEARING IN REGARDS TO RATE INCREASES . BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ZEPHYRHILLS, FLORIDA, as follows : SECTION 1 : That Section 5(e) of said Ordinance No . 211 be and the same is, hereby, amended to read as follows : (e . ) The Contractor shall maintain by its acceptance of this Franchise and specifically agrees that it will maintain throughout the term of this Franchise a faithfull performance bond running to the City with a corporate surety authorized to do business as a surety in the State of Florida, in; penal sum of $10,000.00 , conditioned that the Contractor shall well and truly observe, fulfill and perform each condition of this Franchise and that in the case of any breach of condition of the bond, the amount thereof shall be recoverable from the principal or insuror thereof by the City for all damages., proximately resulting from the failure of the grantee to well and faithfully ob— serve, and perform any provision of this Franchise . That subcontractor shall post said performance bond with the City within thirty (30) days after acceptance of said Franchise by said Contractor. 1 SECTION 2 : That Section 10, be and the same is, hereby, . amended to read as follows : Section 10. Rates — Rates Discrimination Prohibition. Contractor is, hereby, authorized to make the following charges to customers using the system as follows :