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(Ord. 1286, passed 6-7-1982)
ASSURANCES OF COMPLETION
(A) The developer shall, for all major subdivisions, agree to complete all improvements in accordance with these regulations or such other improvements as the city and/or Commission may require in the public interest as a prerequisite to approval of the final plan.
(B) No plan shall receive final plan approval by the Commission unless the developer shall have completed all such improvements and the standards required by these regulations or shall have filed with
the city by performance bond, certified check, letter from a financial institution guaranteeing the completion of improvements, or other acceptable performance assurance. All such assurances shall be approved by City Council.
(C) The city may require their Engineer to check final construction plans for the correctness and to inspect the construction of improvements. If the city decides that the developer pays for the engineering, the developer shall, prior to approval of the final plan, agree to pay for any such checking and inspection at a current schedule of fees as shall be mutually agreed upon between the developer and the Engineer selected.
(D) Upon completion of the improvements in accordance with the specifications of the city and these regulations, the developer shall take the final steps to dedicate the improvements and have the same accepted by the city.
(E) Improvements shall include, but not necessarily be limited to, the following:
(1) Monuments or markers;
(2) Grading and streets;
(3) Curbs and walks (if required);
(4) Sewers or on-lot disposal units;
(5) Water service or on-lot water supplies;
(6) Storm drainage as required; and
(7) Erosion and sedimentation control measurers.
(F) Where grading conditions or other circumstances prohibit the placing of lot markers or street monuments at the time of submission of final plat, a cash deposit shall be made with the city in an amount sufficient to cover the installation of such monumentation at a future date. Should installation of the above monuments and markers not be completed within three months after completion date of subdivision by the subdivider, the city shall cause such installation to be completed and pay therefore from cash deposits.
(Ord. 1286, passed 6-7-1982)
(A) An assurance of proper completion of the improvements in the subdivision shall be made by one of the following methods, or such other method as shall be satisfactory to the Commission and the City Counci1.
(1) A certificate from the developer and signed by the city, that all improvements and installation in the subdivision required by these regulations have been made or installed in accordance with specifications;
(2) A certificate from the developer and signed by the city that a bond, a certified check, or other security satisfactory to City Council has been filed with the city; or
(3) (a) The Commission shall require a bond, certified check, or other security satisfactory to City Council and the Commission which shall:
1. Run or be made payable to the city; and
2. Be in the amount determined by the city and Commission to be sufficient to complete the improvements and installations in compliance with these regulations.
(b) In the case of a bond, it shall also:
1. Be with surety satisfactory to the city; and
2. Be in form, sufficiency and execution acceptable to the city.
(B) The bond, certified check or other securities shall specify the time for the completion of the required improvements. Such time shall be satisfactory to the city and Commission. When the improvements have been completed and approval by the city and Commission, the guarantee shall be released and returned. When a portion of the required improvements has been completed and approved by the city and Commission, a portion of the bond, monies or security commensurate with the cost of the improvements may be released and returned.
(C) In the event that cash or its equivalent is deposited as an improvement guarantee, it shall be held in an escrow fund, which may bear interest to the credit of the developer, but the developer shall pay all costs for the maintaining of such escrow fund. All interest earned shall remain in the escrow account until such time the work is satisfactorily completed.
(Ord. 1286, passed 6-7-1982)
DEVELOPMENT STANDARDS
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