(A) Building permits may be issued prior to the completion and acceptance by the town of the required public improvements; provided, however, no building permit may be issued until adequate financial assurances have been provided for completion of such improvements, as approved by the Town Council and Town Attorney.
(B) In such cases, the Building Official shall require the applicant for a building permit to sign a statement indicating the following:
(1) The applicant is aware of the terms of the bond or escrow account established to guarantee completion of required improvements to the satisfaction of the town;
(2) The applicant releases the town from all liability for the installation, maintenance, or repair of the required improvements until the same have been completed and accepted by the town; and
(3) The applicant assumes all risk in connection with construction on the subject property.
(Ord. 46, passed 8-28-2001; Ord. 21D, passed 1-7-2004; Ord. 59, passed 5-8-2008, § 1104)