Prior to acceptance for county maintenance, said roadway shall contain adjoining thereto, at least ten permanent single-family residences suitable for human occupancy per mile of said roadway. The county will accept for all maintenance purposes any newly proposed road, for a subdivision, which is built per the specifications as prescribed in the Frankfort/Franklin County Subdivision Regulations; provided, however, the developer/owner and assigns (hereinafter collectively referred to as the “developer”) may choose not to install the final cap on a road until the subdivision, section or phase (as hereinafter defied) is 50% occupied, in which event the county will accept for snow and ice removal, but not for maintenance of drainage facilities, any road within that subdivision, section or phase when proper installation of Designated Geographic Area (DGA) and asphalt base is complete. Should the developer choose the foregoing procedure, the developer will be required to maintain, in effect, a letter of credit, surety bond or satisfactory performance (referred to as the “bond”) in an amount sufficient to cover the cost of the final cap at all times until the subdivision, section or phase is 50% occupied, at which time the developer shall be required to place the cap on the road or if the developer should not do so, the county shall cash the bond and place the final cap. Thirty days before expiration of the bond, the county shall cash said bond and apply the proceeds therefrom to the completion of the road(s) unless the developer furnishes evidence of renewal of the bond. The bond required above shall be a part of and not in addition to the requirements of the Planning Commission and shall be effective for a period of one year, renewal annually; provided that, the amount thereof shall be pro rata reduced upon the satisfactory installation of the DGA and asphalt base.
(Ord. 9 (2006), passed 9-1-2006)