(A) General procedure. If the town finds upon inspection per §§ 150.022(G)(1)(a) and 150.023(I)(1) above that any of the improvements have not been constructed in accordance with the approved construction plans, the applicant shall be responsible for completing the public improvements is covered by a performance bond, the applicant and the bonding company shall be severally and jointly liable for completing the public improvements according to specifications.
(B) Release or reduction of performance bond.
(1) Certificate of Satisfactory Completion.
(a) The town (or other participating jurisdiction) shall not accept required public improvements, nor the Commission release nor reduce a performance bond, until a certificate is submitted to the town stating that all required public improvements or a pro-rata part in the case of a reduction have been satisfactorily completed.
(b) The applicant's engineer or surveyor shall provide the town with detailed “as built” construction plans of the public improvements for maintenance in accordance with the established procedures unless the town has reliable information as to non-compliance with the plans and specifications.
(2) Reduction of performance bond. A performance bond shall be reduced upon actual acceptance of public improvements, but only by the amount originally estimated for the completion of the public improvements.
(1996 Code, Chap. 11, § 5.2)