Unless the City otherwise specifically approves an alternative security to assure performance, before a franchise granted pursuant to this title is effective, the grantee shall provide and maintain a performance bond, in form and substance acceptable to the City, as security for the full and complete performance of this title, 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. (Ord. 2850 § 36, amended, 10/19/1999)