§ 161.069 TERM OF ASSURANCE, EXTENSION.
   (A)   The initial term of any performance bond or escrow agreement shall not exceed two years.
   (B)   If all the required improvements have not been completed by the end of the two-year period, the City Engineer may either extend said bond/escrow agreement for one year or may proceed as provided in § 161.070 of this chapter.
(1960 Code, § 41-5-5) (Ord. 7128, passed 4-28-2008)