1301.15 MAINTENANCE BOND REQUIREMENT.
   (a)   The developer shall guarantee the materials and workmanship of all improvements to be dedicated to public use for an eighteen month period of time effective the day after formal acceptance by the City in legislative form approved by Council.
   (b)   In order to secure the guarantee, the developer shall provide a letter of credit, cash in bank, a maintenance bond or other single surety acceptable to, and subject to the approval of, the Chief Building Official in an amount equal to ten percent (10%) of the total estimated cost of the improvement as determined by the City Engineer.
   (c)   If the maintenance guarantee balance should be depleted during its term to less than the original amount, then the developer shall replenish the guarantee to the amount originally required within thirty days of notification to accomplish same or forfeit the entire remaining guarantee balance.
   (d)   The developer shall, at his own expense, have all inspection work done, tests performed and all work approved by an engineering firm other than the City Engineer's. All reports are to be forwarded to the Building Department with copies given to the Administration, Council and City Engineer, attesting to the workmanship of the improvement. The City Engineer shall have a one year time period to approve the developer's finished work.
   (e)   All taxes shall be paid and be current prior to dedication acceptance by the City. The developer shall show proof that all taxes are current.
   (f)   All street lighting shall be installed and operational as stated in Section 1119.07 of the Planning and Zoning Code.
(Ord. 1992-037. Passed 2-11-92.)