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The county may require a surety, cash bond, irrevocable letter of credit, or other means of security acceptable to the county as a guaranty under certain requirements of this chapter. In cases when a guaranty is required, the amount required shall be no less than the total estimated cost of the action required. The guaranty shall include forfeiture provisions for failure to complete the required activity within the time specified. The guaranty may not be released prior to final inspection which verifies compliance with this chapter. No partial releases may be made. In the event that the guarantor fails to perform or complete the required activity, the county may use the guaranty to complete the work.
(2004 Code, § 105-12) (Ord. 04-03, passed 4-1-2004)