§ 5.36.650. Letter of credit.

Latest version.

Within 30 days after the effective date of a franchise agreement, the Cable Operator shall deposit with the City an irrevocable Letter of Credit in the amount set forth in the franchise agreement in a form and with an institution approved by the City. The Letter of Credit may be drawn upon by the City for the purpose of remedying any noncompliance by the Cable Operator with any provision of this Code or the franchise agreement.

(Ord. No. 820, § 1, 3-19-02)

                    
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