The city may require bonds in such form and amounts as may be deemed necessary to assure that the work, if not completed in accordance with the reviewed plans and specifications, will be corrected to eliminate hazardous conditions. In lieu of a surety bond the applicant may file a cash bond or instrument of credit with the city in an amount equal to that which would be required in the surety bond. If requested by the applicant, the amount of the financial security may be reduced by the city based upon the extent to which the grading and restoration have been completed and shall consider the continued need for erosion control. Security provided under this section shall satisfy the security requirements of the Storm Water Management Permit contained within the zoning ordinance.
(Prior Code, § 4.06)