(A) Prior to the issuance of any building and/or grading permit or recordation of a subdivision plat for an activity requiring stormwater management, security shall be provided in the form of an escrow account, irrevocable letter of credit, or other means of security acceptable to the Office of the County Attorney, in an amount not less than 115% of the total estimated construction cost of all stormwater management facilities. The security required in this section shall be subject to forfeiture for failure to:
(1) Complete work specified in the approved final SWM plan; or
(2) Comply with all of the provisions of this chapter, the performance agreement and other applicable laws and regulations, and any time limitations.
(B) The security shall not be fully released until after:
(1) Final inspection by the Division; and
(2) "As-built" plans and a certification of completion have been submitted by the owner or developer and approved by the Division, confirming that all stormwater management facilities comply with the approved plan and the provisions of this chapter.
(C) Partial release of the security may occur as stages of construction have been completed and inspected.
(Ord. 10-09-544, 5-20-2010; Ord. 14-23-678, 11-13-2014)