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Have a question? +1 815-826-6324 (815-8-BondAI) phil@AmericasSuretyBonds.com
Army Veteran Owned | Expert Surety Bonds Since 2004
If your company still operates under a Polk County cable franchise, the $5,000 bond is the security the county holds against that franchise. Before you buy it, check which kind of authority you are actually operating under. Since 2007, many Florida providers hold a state certificate instead, and that changes what the county can ask of you.
Polk County has required a $5,000 surety bond from cable television operators holding a county franchise, payable to Polk County and guaranteeing the operator meets the franchise terms. Since July 1, 2007, Fla. Stat. 610.105 lets a cable or video provider apply for a state-issued certificate of franchise authority. The county franchise ends on the date the state certificate issues, and any local franchise obligation beyond what the certificate requires is void in the covered area.
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This is the point most operators miss. In 2007 Florida moved cable and video franchising to the state level in Chapter 610 of the Florida Statutes. Under Fla. Stat. 610.105, an incumbent cable or video provider may apply for a state-issued certificate of franchise authority, with written notice to each municipality or county where it offers service. The local franchise is terminated on the date the state certificate issues, not the date of the application.
The statute goes further. Where a state certificate covers all or part of a county, any existing local franchise obligation that goes beyond what the certificateholder must meet is "against public policy and void."
The $5,000 bond fits a provider still operating under a franchise granted by Polk County. It names Polk County as obligee and guarantees the operator will meet the terms of that franchise. If your company has moved to a state certificate for its Polk County service area, ask the county whether any bond is still required of you before ordering one.
Confirm with Polk County the franchise the bond secures, the current bond form and where it is filed. Order the bond in the exact legal name on the franchise.
Since July 1, 2007, providers may instead obtain a state-issued certificate of franchise authority under Chapter 610. Under Fla. Stat. 610.105, the local franchise ends on the date that certificate issues.
Fla. Stat. 610.105 voids any existing local franchise obligation that goes beyond what a certificateholder must meet in the covered area. Ask Polk County in writing what, if anything, it still requires before buying a bond.
The surety prices the $5,000 bond from the company's financial strength and the owners' credit. You pay a premium, not the face amount.
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