(A) Purpose. The purpose of the financial security is to ensure installation and maintenance of erosion and sediment control measures, installation of practices intended to meet stormwater requirements, replacement of topsoil, and establishment of vegetation. The responsible party will provide a financial security for projects requiring an erosion and sediment control permit per § 153, stormwater permit per § 153.11(A)(2), or stream crossings permit per § 153.44. Federal, state, county, city, and township governments will not be required to provide financial security.
(B) Form and amount.
(1) The responsible party shall provide security as set forth in the Carver County fee schedule for the performance of the work described and delineated on the approved construction plans and any related remedial work.
(2) The responsible party shall deposit, either with the county, a responsible escrow agent, or trust company, at the option of the county, an irrevocable letter of credit, cash escrow, or other assurance. The financial assurance must be in a form acceptable to the county and from a surety licensed to do business in the State of Minnesota.
(3) The financial assurance shall be in favor of the county and conditioned upon the applicant's performance of the authorized activity in compliance with the permit and applicable laws, including this chapter, and the payment when due of any fees or other charges authorized or required by the permit and this chapter. The financial assurance shall state that in the event the conditions of the financial assurance are not met, the county may make a claim against it. The county shall be authorized to make a claim or draw against the security after any default by the responsible party under the permit or these rules.
(C) Maintaining the financial security.
(1) If at any time during the course of the work the financial security amount falls below 50% of the required deposit, the responsible party shall make another deposit in the amount necessary to restore the cash deposit to the required amount.
(2) If the responsible party does not bring the financial security back up to the required amount within seven days after notification by the county that the amount has fallen below 50% of the required amount the county may take such legal action as specified in § 153.74.
(D) Action against the financial security.
(1) The county shall be authorized to make a claim or draw against the security after any default by the responsible party under the permit or this chapter.
(2) The county may use funds from this security to finance remedial work undertaken by the county or a private contractor and to reimburse the county for all costs incurred in the process of remedial work including, but not limited to, staff time and attorney's fees under the following circumstances:
(a) The responsible party ceases land altering activities and abandons the work site prior to completion of the grading plan.
(b) The responsible party fails to conform to the grading plan, erosion and sediment control plan, and/or the approved stormwater management plan as approved by the county.
(c) The erosion and sediment control techniques utilized under the erosion and sediment control plan and/or the approved stormwater management plan are not maintained during site construction.
(d) The responsible party fails to reimburse the county for corrective action.
(E) Returning the financial security. The security shall be released after:
(1) Construction is complete;
(2) The site has been re-vegetated (90% percent vegetated cover across the site and 100% in areas of concentrated flow);
(3) All erosion and sediment measures have been removed;
(4) When applicable, the practices identified in the approved stormwater management plan have been installed and are working as designed;
(5) When applicable, record drawings have been received and reviewed by the county;
(6) When applicable, an operation and maintenance plan has been received and reviewed by the county;
(7) When applicable, conditions to final approval have been met;
(8) A final inspection has been completed by the county and the county determines that the project adheres to the standards in this chapter.
(F) Partial return of the financial security. The county may return a portion of the financial security submitted to assure performance if the county determines that the entire amount is no longer required to ensure compliance with permit conditions and rules.
(Ord. 57-2005, passed 1-10-06; Am. Ord. 75-2012, passed 6-26-12; Am. Ord. 83-2016, passed 9-20-16; Am. Ord. 99-2022, passed 6-28-22)