Tennessee-City of Knoxville-Electrical Contractor Bond ($10,000) The City of Knoxville Electrical Contractor Surety Bond is required by the state of Tennessee City of Knoxville. The Bond amount (Penalty) required is $10,000. This Bond is required of principals that have applied for a certificate from the City of Knoxville as a permit to do business as an Electrical Contractor. Therefore the principal must adhere to all rules and regulations of said permit to the satisfaction of the City of Knoxville. The principal will also be required to comply with all local and state laws.