(A) Performance bonds.
(1) Applicant shall provide financial performance assurance in the form of a performance bond, certified check, irrevocable letter of credit, or certificate of deposit after receiving an approved secondary plat. Assurance shall be made out to the Town of Brownsburg for an amount equal to one hundred and ten percent (110%) of the total costs of implementing measures required by this chapter. A cost estimate prepared by the design engineer is to be submitted and approved by the Town.
(2) Said performance bond shall guarantee a good faith execution of the stormwater quantity and quality management plans, stormwater pollution prevention plan, and any other conditions of plan approval (collectively known as the Stormwater Management Plan). Said costs shall be for the installation and continuous installation, monitoring, and maintenance of stormwater infrastructure, temporary and permanent sediment and erosion control measures, detention/retention facilities and other water quantity BMPs, and stormwater quality BMPs, as regulated under this chapter. The intent of this performance bond is not only to complete the installation of stormwater infrastructure for the project, but also to ensure that adequate stormwater pollution prevention measures are properly installed and maintained.
(4) Should the owner/applicant fail to comply with the provisions of this chapter, in addition to any other remedies the Development Services Department may redeem the performance bond to complete all necessary work, after giving reasonable notice and opportunity for compliance as defined in § 151.90.
(5) Upon completion of the required stormwater infrastructure, temporary and permanent sediment and erosion control measures, detention/retention facilities and other water quantity BMPs, and stormwater quality BMPs according to the recorded secondary plat and approved Stormwater Management Plan, the applicant shall provide the Development Services Department with “as-built” plans. The applicant may then request the release of the performance bond. Upon satisfaction of all performance requirements, and issuance of NOT, the Stormwater Department will release the performance bond within sixty (60) days.
(Ord. 2017-28, passed 10-12-17)