a) If
required, the permittee shall furnish a surety bond on a form approved, and in
an amount specified, by the Department.
b) General
1) The surety bonds required for utility work
and occupancy on State highway right-of-way are intended primarily to assure
the prompt and satisfactory replacement, repair, and completion of work (at no
cost to the State or its contractors) on State highway facilities that may be
damaged or disrupted by the utility company's operations or occupancy. These
bonds are not to be considered as personal injury and property damage
insurance.
2) A surety bond remains
in effect until released by the Department.
3) The monetary value of the surety shall be
based on the potential for highway facility damages which may be related to the
type and volume of transmittent, the physical dimensions of the utility
facilities, and the permittee's history of noncompliance.
4) The
Department will accept bonds from only
those sureties that meet the
Department's standards for acceptability as set
forth in 44 Ill. Adm. Code
675.240.
5) The bonding company shall commit itself to
notify the Department of its intention to terminate the bond at least 30 days
before termination. The permittee shall provide a substitute surety bond
acceptable to the Department within 15 days after its surety gives a
termination notice or shall remove its facility from, and restore, the
right-of-way within that period of time.
c) Utility Permit Continuing Bond
Surety shall be provided as a continuing bond to remain in
full force and effect for all utility companies issued a general utility permit
providing for long-term or permanent occupancy of State highway
right-of-way.
d) Individual
Utility Permit Bond
Surety shall be provided by a contractor who constructs or
maintains utility facilities, under permit, for a municipality or other public
body which is not required to maintain a continuing bond. Individual utility
permit bonds are to remain in full force and effect until the specific project
is completed and the highway right-of-way is restored in accordance with
Section
530.250. As a
minimum, Individual Utility Permit Bonds remain in full force and effect for
five years from date of permit approval by the Department.
e) Continuing Bond for
Utility Contractors
A contractor who has occasion to frequently request permits
for utility work may provide, at its option, a continuing bond. This
arrangement eliminates the need for the contractor to secure an individual
utility permit bond for each project.
f) If the surety bond expires, the permit can
be revoked.