The Stormwater Management Office shall require from the developer a non-expiring or auto-renewing surety or other means of security acceptable to the Stormwater Management Office prior to the issuance of any building and/or grading permit for the construction of a development requiring a stormwater management facility. The amount of the security shall not be less than the total estimated construction cost of the stormwater management facility. The bond required in this section shall include provisions relative to forfeiture for failure to complete work specified in the approved stormwater management plan, compliance with all of the provisions of this chapter, and other applicable laws and regulations, and any time limitations. The bond shall not be fully released without a final inspection of the completed work by the Stormwater Management Office, submission of "as-built" plans, and certification of completion by the Stormwater Management Office that all stormwater management facilities comply with the approved plan and the provisions of this chapter. A procedure may be used to release parts of the bond held by Stormwater Management Office after various stages of construction have been completed and accepted by Stormwater Management Office. The procedure used for partially releasing performance bonds must be specified by the Stormwater Management Office in writing prior to stormwater management plan approval.
(Res. 2010-8, passed 6-15-2010)