In a case where screening, landscaping or other improvement to property are required by this code or by the plans approved for a building structure or alterations and additions to buildings or structures or other use of premises, a performance bond shall be required as a condition precedent to the issuance of the building or other permit. The amount of the bond shall be fixed by the issuing authority but shall not exceed twice the amount of the value of such required improvement as estimated by the issuing authority. The city may also accept, at its option, an irrevocable letter of credit, noninterest bearing cash deposit, or other instrument which provides an equal guarantee to the city.
(1958 Code, § 35.30) (Ord. 259, passed 12-5-1960; Ord. 71-19, passed 3-15-1971, renumbered to § 35.18; Ord. 72-61, passed 11-20-1972, renumbered to § 35.09; Ord. 87-67, passed 9-28-1987)