§ 14. Surety bond.

Latest version.

Licensee agrees to make, execute and deliver on or before the 1st day of January of each year, commencing with January 1, 1993, a good and sufficient surety bond payable to the City of Sulphur, Louisiana, conditioned upon the faithful performance of the terms and conditions hereunder. The penal sum of such bond shall be an amount equal to the annual amount payable to City each year for the privileges granted hereunder, and said penal sum shall be adjusted annually to reflect said amount. In no event shall the penal sum be less than TEN THOUSAND AND NO/100 ($10,000.00) DOLLARS. The surety on said bond shall be a surety company duly authorized to do business in the State of Louisiana and acceptable to the City of Sulphur. Such surety bond shall contain a stipulation that surety agrees to give City thirty (30) days written notice prior to any modification or cancellation of said bond by the surety. City reserves the right to waive the requirement of said surety bond.

                    
                        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');