The performance security shall be submitted to the Department, which shall issue a receipt for the same. The security shall be lodged for safekeeping with the County Treasurer, except that the Department may, at the request of the applicant, enter any cash security in a time deposit account at an accredited financial institution subject to the condition that the applicant may from time to time withdraw the accrued interest but may not withdraw any portion of the principal amount without the written authorization of the Department following the final inspection and approval pursuant to § 52.60(B).
(1986 Code, § 253-19) (Ord. —, passed 3-29-1983; Am. Ord. —, passed 11-16-1993)