(A) An occupancy bond shall be required on all new construction within the village following the effective date of this section in the amount of $500.
(B) Said fee shall be required to be paid prior to the issuance of a building permit.
(C) Upon successful completion of the construction, a final inspection by the Village Building Inspector approving the construction and the issuance of an occupancy permit, the applicant shall be entitled to a return of the occupancy bond. The village shall return said bond within 30 days following the issuance of an occupancy permit.
(D) In the event that the structure is occupied prior to the issuance of an occupancy permit, the occupancy bond shall be forfeited and retained by the village, and the applicant waives any right to the return of said occupancy bond and forever releases the village in connection with said forfeiture.
(E) In addition to the above forfeiture, there shall be an additional $50 reinspection fee payable to the village in addition to any other fees or fines incurred due to any violation found during the process of any inspection or reinspection of the premises.
(Ord. 1998-7, passed 11-2-1998)