Before a franchise granted pursuant to this chapter is effective, and as necessary thereafter, the grantee shall provide a performance bond, in form and substance acceptable to the city, as security for the full and complete performance of a franchise granted under this chapter, including any costs, expenses, damages or loss the city pays or incurs because of any failure attributable to the grantee to comply with the codes, ordinances, rules, regulations, or permits of the city. This obligation is in addition to the performance surety required for construction of facilities. (Ord. 2000-33 § 1 (part): prior code § 1.940)