Before a franchise granted pursuant to this chapter is effective, and as necessary thereafter, the grantee shall provide and deposit such monies, bonds, letters of credit or other instruments in form and substance acceptable to the city as may be required by the city of Algona, or by an applicable franchise or other applicable code, ordinance, resolution, or rules and regulations of the city. (Ord. 1188-21 § 2 (Exh. A), 2021).