(a) The owner shall provide proper yrotection for all improvement installation, primarily the underground utilities, at al times, and shall be held responsible for necessary replacements and maintenances until such time that the pavement work is completed. (Ord. 1978-36. Passed 6-13-78.)
(b) A performance bond sufficient to complete the project shall be filed with the City before construction begins. Council may accept the dedication of the streets by ordinance. (Ord. 1994-9. Passed 3-24-94.)
(c) The owner or his or her successors or assigns shall deliver a letter of credit or deposit cash with the City in the amount of ten percent of the first one hundred thousand dollars ($100,000), five percent of the next five hundred thousand dollars ($500,000) and three percent on any remaining balance of the actual cost of installing sanitary and storm sewers, catch basins, manholes, water mains and appurtenances, pavements and other improvements required pursuant to this chapter, such bond to guarantee that all catch basins, manholes, water shut-off boxes, fire hydrants, sewers, water mains, sidewalks, pavements and any other improvements installed in accordance with the approved plans are in good working condition and free of hidden defects. The City Engineer shall obtain from the owner actual figures for the cost of such construction. Such letter of credit or cash deposit shall be retained by the City for a period of two years from final dedication and acceptance of such allotment. Such letter of credit or cash deposit shall be furnished to the City prior to final acceptance by Council. In the case of a cash deposit, the Director of Finance shall deposit the cash deposit in an interest-bearing account, and the interest shall be payable to the owner after the two-year period, together with any balance remaining in the cash deposit. (Ord. 1996-105. Passed 12-10-96.)
(d) At no time prior to the acceptance of the dedication of any street by Council shall the City be held liable for any injury to persons or damage to property which might occur on the owner's property for any reason whatsoever.
(Ord. 1994-9. Passed 3-22-94.)