(a) The City shall require a performance bond in the form of a Security Bond, Escrow Account, Certified Check or Cash to guarantee the implementation of planned temporary and permanent provisions of the approved SWPPP. The performance bond will be used by the City to complete any provisions that are not appropriately implemented, as determined by the City Engineer. The performance bond shall be in an amount of one hundred twenty percent (120%) of the Opinion of Probable Costs for the implementation of the approved SWPPP. The Opinion of Probable Costs shall be submitted with the SWPPP for review and approval by the City Engineer. After completion of the final inspection and execution of the maintenance bond, the performance bond shall be released.
(b) The City shall require a maintenance bond in the form of a Security Bond, Escrow Account, Certified Check or Cash to guarantee the maintenance of permanent LTMA provisions for a period of three (3) years after the final inspection. The maintenance bond will be used by the City to maintain or modify any provisions that are not appropriately functioning, as determined by the City Engineer. The maintenance bond shall be in an amount of twenty-five percent (25%) of the Opinion of Probable Costs for the implementation of the approved LTMA and shall be executed after the final inspection. Upon completion of three year maintenance period and the successful maintenance of the LTMA provisions, as determined by the City Engineer, any unused portion of the maintenance bond shall be released.
(Ord. 2006-072. Passed 9-18-06; Ord. 2015-024. Passed 5-4-15; Ord. 2020-021A. Passed 6-15-20.)