1208.15   IMPROVEMENT GUARANTEES.
   (a)   Final Plat Approval Contingent on Improvement Guarantees. At the time of final plat approval, installation of all required improvements shall either be complete or the subdivider and City shall execute a final subdivision improvement agreement setting forth what improvements remain to be installed. The subdivider shall post a performance bond or other guarantee of security as set forth in this section for the purpose of assuring the installation of such improvements at or before the time the agreement is executed. The Planning Commission shall not approve a final subdivision plat unless it finds that the subdivider has complied with this provision.
   (b)   Performance Guarantees. The subdivider shall furnish a performance guarantee in a form approved by the City and in an amount sufficient to cover the following amounts:
      (1)   One hundred ten percent of the City Engineer's estimate of the costs of construction and installation of storm and sanitary sewers, water systems, streets, sidewalks, street lighting systems, and facilities and appurtenances thereto;
      (2)   An amount, as determined by the City Engineer, to cover the engineering fee commensurate with the work performed; and
      (3)   An amount, as determined by the City Engineer, to cover the inspection fee or fees.
      (4)   One hundred ten percent of the City Community Development Staff's estimate of the costs of materials and installation of required landscaping and associated materials.
   (c)   Maintenance Bond. Unless otherwise provided for in this Code (see, e.g., Section 1207.07 (c)(3) regarding maintenance of stormwater detention/retention facilities), at the time of the City's acceptance of public improvements, the City may require the subdivider to furnish a maintenance guarantee in a form approved by the City and in an amount of up to fifteen percent of the costs of construction or installation, so as to guarantee the proper functioning and structural integrity of such improvements. The duration of such guarantee shall be for the following periods of time or until the City releases the guarantee pursuant to this chapter:
      (1)   Streets, sidewalks, pavement, and facilities appurtenant thereto: Two years from the date of acceptance by the City of such facilities;
      (2)   Street lighting systems and facilities appurtenant thereto: Two years from the date of acceptance by the City of such facilities and appurtenances; or
      (3)   Landscaping and bufferyards: Two years from the date of planting. See also Section 1207.04(q), Maintenance of Landscaping and Bufferyards.
   (d)   Indemnity Insurance. The subdivider shall furnish such insurance as is deemed necessary by the City, and approved as to form by the City Solicitor, to indemnify and save harmless the City from any and all liability arising by reason of the unimproved conditions of the streets of such subdivision which may arise or grow out of the construction or installation of such facilities. The insurance shall be of such duration as determined by the City, but shall in no case be allowed to expire earlier than the effective period of any maintenance bond. A copy of the insurance policy shall remain at all times with the Clerk of the City Council.
   (e)   Release of Guarantees.
      (1)   Notice to City Engineer–inspection and report. Upon substantial completion of all required improvements, the subdivider or developer may notify the City Engineer in writing, by certified mail, of the completion or substantial completion of improvements. The City Engineer shall inspect all improvements of which such notice has been given and, after consultation with other appropriate City officials, shall send a detailed report, in writing, to the subdivider or developer indicating either approval, partial approval, or rejection of such improvements with a statement of any reasons for rejection. The cost of the improvements as approved or rejected shall be set forth.
      (2)   City Council action on approval of improvements. If the City Engineer has approved all or some of the improvements pursuant to division (e)(1) of this section, he shall file a copy of his report with the City Council. The City Council shall approve all or some of the improvements on the basis of the report of the City Engineer, and shall notify the subdivider or developer in writing of its action not later than ninety days after receipt of the notice from the subdivider or developer of the completion of improvements.
      (3)   Release of the guarantees. Where City Council approval is granted on the basis of the report of the City Engineer, the subdivider or developer shall be released from all liability, except for any portions of improvements not yet approved, pursuant to any performance guarantee for such improvements.
(Ord. 18-93.  Passed 10-15-19.)