§ 151.710 COMPLETION OF WORK AND REDUCTION OF SECURITY.

As required improvements are completed, the Planning Commission may reduce the amount of the performance bond, cash deposit, or irrevocable letter of credit. The amount released shall be the approved cost of the work completed less cash reserve/ retainage. Said cash reserve/retainage will be released upon final acceptance and completion of all improvements and acceptance of maintenance bonds and all required closeout documents.

(Ord. 2024-16, passed 2-19-2024)

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