§ 29.2-29. Surety bonds and payment for city resources.

(a)

The applicant shall deliver to the city within fifteen (15) calendar days after the submission of a completed application or within two (2) calendar days of the event, whichever occurs first, surety by a cash bond, payment and performance bond, or a continuing letter of credit in an amount equal to the costs of providing public safety, sanitation and transportation personnel and resources at the event. The surety shall be released if no claims are made against it no later than fifteen (15) business days from the last date of the large special event. Such surety shall be conditioned upon the applicant faithfully observing, fulfilling and performing all obligations under the application, contract and provisions of this chapter, and shall be in a form approved by the city's legal department according to the standards set forth in this section. The purpose of such surety is to insulate the city from financial loss due to the large special event. Cash bonds shall be deposited into a non-interest bearing account designated for such deposits by the city.

(b)

In addition to the requirements above, the applicant shall pay the city by cash, cashier's check, certified check, wire transfer or money order within fifteen (15) calendar days after the submission of a completed application or within two (2) calendar days prior to the event, whichever occurs first, fifty percent (50%) of the total costs for city resources as listed in paragraph (a) above. The balance due shall be paid to the city in the same manner by no later than thirty (30) calendar days following the conclusion of the event. If the applicant is unable to obtain surety as required above, then the applicant must pay in advance by cash, cashier's check, wire transfer, certified check or money order within ten (10) calendar days of submission of a completed application, the total costs for city resources as listed in paragraph (a) above.

(c)

The city may seek recovery of the costs listed in paragraph (a) above for large special events conducted without a permit.

(d)

If the event a large special event is cancelled due to a state of emergency declared by the Governor or the Mayor of the city, the city, at the applicant's request, shall refund to the applicant all deposits paid hereunder to the extent the costs have not already been incurred by the city, and shall release the net remaining surety posted as soon as practicable.

(e)

Costs for city resources shall be determined by the city pursuant to city manager regulation.

(Ord. No. 2591, § 3, 10-9-07)