§ 11-2.03. Deposit to Accompany Application.

Every application for a franchise shall be accompanied by a cash deposit of not less than five hundred dollars ($500.00), or by a certified check for said amount, payable to the City, as a fund out of which to pay all expenses connected with such application. In the event that the Council deems the sum of five hundred dollars ($500.00) insufficient to pay said expenses, it may, by resolution, require the applicant to make an additional deposit in an amount sufficient to cover the estimated expenses.

The deposit of the applicant shall be retained until the acceptance of the franchise and the filing of any bond or other security required, or until the Council determines not to grant the franchise. Whereupon the remainder, if any, of the amount deposited shall be returned after the payment therefrom of all expenses incurred by the City in connection with the advertising, engineering, clerical work and awarding of such franchise.

In the event that the amount of the deposit is insufficient to pay the expenses incurred by the City in connection with the advertising, engineering, clerical work and processing of such franchise, the applicant shall be held liable for such costs as are in excess of the amount deposited, and it shall be the duty of the Director of Finance to collect the amount of such expenses which are in excess of the deposit from the applicant to whom the franchise is granted.

(Sec. 3, Ord. 1048-N.S.)