(A) Provision of surety before operations begin. After receiving notification that the application for a natural resource permit has been approved, but prior to commencement of such operation, the operator shall provide surety to the city, in a form and amount to be determined by the Planning Commission in consultation with the City Engineer.
(B) Amount of surety. In determining the amount of surety to be provided, the Planning Commission shall consider factual information as to the magnitude, type and costs of approved reclamation activities planned for the land affected and the nature, extent and duration of operations under the approval notice. The Planning Commission shall fix the amount of the bond at an amount reasonably related thereto, to protect the city and ensure compliance with the requirements of the conditional use permit; however, the amount of the bond shall not exceed 125% of the estimated cost of rehabilitating the excavation. The bond shall be periodically reviewed to insure that the amount of the bond is capable of ensuring adequate reclamation.
(C) Form of surety. In determining the form of surety to be provided by the owner, the Planning Commission shall approve a method acceptable to the owner and consistent with the requirements of this subchapter which may be one or a combination of corporate surety bond, land, cash or other deposited securities.
(D) Release of surety. The liability under surety provisions shall continue until such time as it is released as to part, or in its entirety, by the City Council.
(E) Forfeiture of surety. If the operator fails or refuses to carry out the necessary land reclamation as outlined in the approved operation and reclamation plans, the Planning Commission may, after notice and hearing, declare any surety filed for this purpose forfeited, or in case of a corporate bond file suit against the owner and his or her bonding company. The city shall also have the right to file suit against the defaulting permittee for costs of rehabilitation and reasonable attorney’s fees.
(Prior Code, § 29.28.130) (Ord. 00-03, passed 1-20-2000)