1. In addition to the application for a City COSESCO Permit, the applicant may be required to post security for compliance with all requirements imposed by the State NPDES General Permit #2 and the City COSESCO Permit in such an amount as the City may deem necessary.
2. If the final plat is approved prior to the installation of public improvements, in accordance with Chapter 175.05.5A, a performance bond shall be required to cover the costs of the sediment and erosion control measures for the plat.
3. Acceptable forms of Performance Security include the following:
A. Performance Bonds;
B. Surety Bonds
4. The application form signed by the applicant for a City COSESCO Permit shall include the following commitment by the applicant: “In addition to the performance security posted with this application, the undersigned applicant hereby agrees to defend, indemnify and hold the City harmless from any and all claims, damages or suits arising directly or indirectly out of any act of commission or omission by the applicant, or any employee, agent, assign or contractor or subcontractor of the applicant, in connection with applicant’s State NPDES General Permit #2 and/or City COSESCO Permit.
5. Upon filing and acknowledgement of the Notice of Discontinuation by the Iowa Department of Natural Resources for NDPES General Permit #2 and a final inspection by the City, the bond or any remaining funds shall be returned.