The applicant shall deposit security to secure the performance of the conditions of
the permit and to provide for claims against the operation. Such deposit shall be
in the form of cash, assignment or certificate of deposit, a personal or corporate
surety bond, letter of credit or other security in a form approved by the office of
county counsel of the County of Santa Barbara. Said security shall be released to
the applicant after the passage of ninety days from the termination of the parking
operation to the extent that no claims are filed with the department of resource management
against said deposit and it appears that the applicant has fully performed the conditions
of the permit. The security shall be in an amount to reasonably provide for claims
incident to such operations. Where a copy of a policy of public liability insurance
is provided in an amount of not less than five hundred thousand dollars per event
for personal injury liability and one hundred thousand dollars per event for property
damage liability, security in an amount equal to one hundred dollars per acre of area
permitted shall be deemed sufficient to reasonably provide for property damage claims
incident to the operation and to secure performance of the agreements provided.
(Ord. No. 3553, § 1)
var val = document.getElementById('citecontent').innerHTML;
art.dialog.defaults.title = window.location.href;
art.dialog.data('cite', val);
art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');
