(a) A performance bond of 130 percent of the engineer's estimate or contract amount, as approved by the Sanitary Engineer, shall be posted with Council prior to the initiation of construction. A certified check in such amount may be posted in lieu of a performance bond.
(b) Release of seventy percent of such bond requires:
(1) Completion of main line and lateral construction;
(2) Acceptance of the facilities by the Sanitary Engineer after testing is satisfactorily completed and all required repairs are made;
(3) Certification of the grade on sewer inverts by a registered surveyor;
(4) Recording of all easements; and
(5) Completion of all required structures.
(c) Release of 100 percent of such bond requires:
(1) All manholes, valve boxes and other appurtenances set to grade;
(2) Submission of approved "as built" linens or mylars to the Municipality;
(3) Posting of a one year maintenance bond equal to ten percent of the construction costs; and
(4) Compliance with subsection (b) hereof.
(Ord. 9-87. Passed 3-9-87.)