§ 5.04.090. Bond—Termination.

The liability on any surety bond deposited with the City pursuant to the provisions of this Chapter may be terminated upon the filing with the Director of Financial Management by the surety on the bond of a written notice to the City wherein it shall be stated that the surety intends to terminate the liability upon the bond. Termination is to become effective thirty (30) days from and after the day upon which the notice of intention to terminate liability is filed with the Director of Financial Management; provided, however, that in no case shall the termination of liability by the surety on any bond affect any liability incurred prior to the date of termination thereof.

(Ord. C-7423 § 13, 1996: Ord. C-6260 § 1 (part), 1986)