§ 34–1256.05. Performance bond.

(a) At all times during the term of a franchise, including the time for removal of facilities or management, the cable operator shall obtain and hold a performance bond running to the District with good and sufficient surety approved by the Office, in an amount to be determined by the Office or set forth in a franchise agreement, to ensure that the operation of the cable system continues uninterrupted in the event of a default by the cable operator.

(b) The cable operator shall make all payments associated with the bond in a timely manner.

(c) The cable operator shall file with the Office written evidence of payment of premiums and executed duplicate copies of the bond documents.

(d) The bond shall be with a surety company authorized by the District’s Superintendent of Insurance to transact business in the District.

(e) The bond shall require 60 calendar days written notice of any cancellation to both the Office and the cable operator. If the Office or the cable operator receives a cancellation notice, the cable operator shall obtain a new bond, meeting the requirements of this section, within 60 days after receipt of the notice by the Office or the cable operator.

(f) Failure to comply with the provisions of this section, or with the performance bond provisions of the franchise agreement, shall constitute a material violation of a franchise.