Ordinance - #83-01 - Index for Changes - 01/11/1983 (2)

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! ! ill _ Bi, $10,000. The Letter of Credit shall provide that funds will be paid to City, upon written demand of City, and in an amount solely determined by City in payment for penalties charged pursuant to this section, in payment for any monies owed by Grantee pursuant to its obligations under this Franchise, or in payment for any damage incurred as a result of any acts or omissions by Grantee pursuant to this Franchise. In addition to recovery of any monies owed by Grantee to City or damages to City as a result of any acts or omissions by Grantee pursuant to the Franchise, City in its sole dis- cretion may charge to and collect from the Letter of Credit the following penalties: (1) For failure to complete System construction in accord- ance with Grantee's initial service area plan, unless City approved the delay, the penalty shall be Five Hun- dred Dollars ($500.00) per day for each day, or part thereof, such failure occurs or continues. (2) For failure to provide data, documents, reports or in- formation or to cooperate with City during an applica- tion process or System review, the penalty shall be One Hundred Dollars ($100.00) per day for each day, or part thereof, such failure occurs or continues. (3) For failure to comply with any 0f the provision of this Franchise for which a penalty is not otherwise specifi- cally provided pursuant to this Paragraph C, the penalty shall be One Hundred Dollars ($100.00) per day 59