§ 52.04  PERFORMANCE BONDS.
   The Planning Commission shall set all construction guarantees and performance bonds on any and all roads and/or streets as herein defined.  Said guarantees and bonds shall be according to Section 333 of the Lawrenceburg-Anderson County Subdivision Regulations (August, 1975).  Upon completion of any required performance which is guaranteed or bonded pursuant to this chapter, such bond and/or guarantee shall be reduced to ten per cent (10%) of its original amount.  Upon completion of the act bonded or guaranteed, and upon final and complete inspection by the aforementioned selected engineer or engineering firm, and in the case of a subdivision, upon completion of construction of ninety per cent (90%) of the buildings to be located therein, then the Planning Commission shall completely and fully release said bond or guarantee unless, however, said remaining bond or guarantee must be used for repair and upgrading to the original preliminary plat standards and requirements ordered within this chapter.  At that point in time the Board of Council will accept dedication and maintenance of said road and/or street.
   (B)   The city will not accept any road and/or street for city maintenance unless and until the following is completed:
      (1)   Prior to submission to the Lawrenceburg-Anderson County Joint Planning Commission of the final plat relative to a subdivision the developer has fully and completely paid any and all fees and costs to the aforementioned selected engineer or engineering firm.
      (2)   Prior to the acceptance by the city of maintenance of any road and/or street, the developer or any subdivider has fully and completely paid any and all fees and costs to the aforementioned selected engineer or engineering firm.  It is the intent of this chapter that any costs incurred for such selected engineer or engineering firm shall be the responsibility of the developer and/or constructor of any street and/or road.  All streets and/or roads, and other acts to be performed pursuant to this chapter shall be completed prior to any construction in the case of a subdivision.  Then, as set out hereinabove in this section, acceptance by the city for city maintenance shall be upon the terms of this section.
(Ord. 1990-3, passed 6-11-90)