(A) Security required. The city may require an applicant to provide adequate security to guarantee the proper completion of approved work or compliance with conditions of approval.
(B) Form of security. The security must be in the form of cash, a certified or cashier’s check or a performance bond executed by the applicant and a corporate surety authorized to do business in California and approved by the Department.
(C) Amount of security. The Department will determine the amount of the security necessary to ensure proper completion of the approved work or compliance with conditions of approval.
(D) Duration of security. The security must remain in effect until all work has been completed and conditions fulfilled to the satisfaction of the Department or until a specified warranty period has elapsed.
(E) Release of security. The Department must release the security upon completion of the approved work or compliance with conditions of approval.
(F) Failure to comply.
(1) Upon failure to complete work or comply with conditions, the Department may complete the work or fulfill the conditions and may collect from the applicant or surety all costs incurred, including administrative, engineering, legal and inspection costs.
(2) The Department must refund any unused portion of the security to the funding source.
(Ord. 885-C.S., passed 5-21-19)