Lighting: Street, CIAC

This contract is for the provision of electric utility services to the City of St. Petersburg, Florida. The contract is a non-exclusive franchise agreement, meaning that the city reserves the right to grant similar franchises to other companies. The contract has a term of 30 years and includes provisions for the payment of franchise fees, which are calculated as a percentage of the vendor's base revenues. The vendor is required to maintain certain levels of insurance coverage and to indemnify the city against any claims or damages arising from the vendor's operations. The contract also includes provisions for the termination of the franchise in certain circumstances, such as the vendor's failure to comply with the terms of the contract. Key aspects of the contract include: • The franchise fee is 6% of the vendor's base revenues • The vendor is required to maintain insurance coverage of at least $1,000,000 for bodily injury or death to a person • The vendor is required to indemnify the city against any claims or damages arising from the vendor's operations • The contract has a term of 30 years • The contract includes provisions for the termination of the franchise in certain circumstances