Gilroy Cable TV Performance Bonds
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THE CO,zNERSTONE OF SECU~~SINCE1910...
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TELEPHONE !5:37-4441
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321 FIFTH ST" HOLLISTER, CALIFORNIA
WILLIAM A. WINN
FOUN~Ef- .j"
RALPJ:G'::-i\'t"fNNt'V Inco:t'po~ated
JOHN3Rlh~st Street '.'
Gilroy, California
Att: Frank Caliri
RE: Performa;nce Bonds
Dear Frank;
Thank you for considering .our office for placing of the necessary for Cable TV
Incorpo rated.
\Ve have reviewed copies of the contracts and licenses with the City Of Gilroy
o.J.1.d the County Of Sa."1ta Clara. Both the City and the County are requiring
$50,000 Performance Bonds to cover the installation and servlce of cable TV.
In reviewing the contracts and licenses, it is apparent that the County Of Santa
Cl,tra has a minimum liability e:i-:posure. It is our understanding that you are
unable to deviate from the designated cable route through. the county or pro-
vide any installation in the county. .
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In che ekihg into this matter, we have dete rminqd that similar' venture s in .
various other counties have been much less demanding hi their bond require-
ments. For instance, cable television in Eureka, Humboldt County; VisaUat
Tulare County; and Fresno, Fresno County all required only $2,000 bonds
Ior the county.
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It is true that the bond,ing compan:y's liability exposure is also limited with
respects to the operations in the county, however, they are still required to
razeI've $50, 000 and when circumstances do not justify. this large a bond, they
1;>ecome very reluctant to issue the bon d.-
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In view of the large bond required by the City Of Gilroy. we would suggest that ·
the County Of Santa Clara be named as joint obligee with tpe City Of Gilroy on
one bond in the amount of $50,000. This would protect both the City Of Gilroy
and the county to the limit of the bond and as their interests may appear. In
our opinion and the opinion of our bonding market, wuch a bond should more
than satisfy the license and franchise requirements on the City and the County.
MEMBeR. NATIONAl. ASSOCIATION OF INSURANce p.et',':';' . INSURANce BROKERS ASSOCIATION OJ' CALIFORNIA. LIFE UNoeRWRITeRS ASSOCIATION
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THE CORNERSTONE OF SECURITY SINCE 1910...
TELEPHONE 637-4441
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INSURANCE
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Kindest regards .
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Ron C. Mingus
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MEMBER. NATIONAL ASSOCIATION Of INSURANCE BROKERS.. INSURANCE BROKERS ASSOCIATIOH OF CALIfORNIA.. tlfE UNDERWRITERS ASSOCIATION