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City of Portland

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17.24.012 Financial Guarantee Required.

A.  When issuing permits under this Chapter, the Director of the Bureau of Transportation may require a construction bond, performance bonds or other form of financial guarantee, approved by the Director of the Bureau of Transportation, as a condition of the permit.

B.  The Director of the Bureau of Transportation may require a maintenance bond, or other financial guarantee, approved by the Director of the Bureau of Transportation, as a permit condition. The maintenance bond or other financial guarantee shall remain in force as long as the person or that person’s predecessor has facilities located within the public right-of-way.

C.  The acceptable forms and levels of the required financial guarantees shall be established by the Director of the Bureau of Transportation, as maintained on file in the office of the Bureau of Transportation.