8-5-7: FINANCIAL SECURITY FOR PROJECTS SUBJECT TO A DEVELOPMENT AGREEMENT:
   A.   Security Required: If the project is proceeding under a development agreement with the City, the costs of any work required in this chapter shall be added to the letter of credit or bond in an amount pursuant to section 11-5-4 of this Code and then enforced pursuant to said section 11-5-4 of this Code.
   B.   Emergency Action: If circumstances exist such that noncompliance with this chapter poses an immediate danger to the public health, safety and welfare, as determined by the City, the City may take emergency preventative action. The City shall also take every reasonable action possible to contact and direct the applicant to take any necessary action. Any cost to the City may be recovered from the applicant's financial security. (Ord. 2017-012, 11-21-2017)