The performance guarantee may be in the form of asurety bond issued by a company authorized to do business in the state of North Carolina, a certified check, a first deed of trust, an irrevocable letter of credit, or an escrow deposit. All performance guarantees shall not be accepted unless the City Attorney has made a review thereof and provided a written opinion that the interests of the city are fully protected.
(Ord. No. 1941, § 1, passed 1-12-1989; Ord. No. 23-040, § 1, passed 5-11-2023)