§ 151.204 PARTIAL RELEASE PERMITTED.
   The Town Council may, upon recommendation of the Town Engineer and application of the person giving the guarantee, authorize from time to time a partial release of the performance guarantee in accordance with the following schedule:
 
Percent of Work Completed
Maximum Percentage of Guarantee of Performance Eligible for Release of Total Bond
50%
40% of total bond
75%
60% of total bond
100% and a satisfactory final inspection
80% of total bond
 
(Ord. 14-11-02, passed 11-14-2002)