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(1) Before issuing a sediment control permit for a development which requires a stormwater management system, the Director must require the applicant or owner to furnish a performance or cash bond, irrevocable letter of credit, certificate of guarantee, or other instrument from a financial institution or issuing person satisfactory to the Director and the County Attorney, for construction of the on-site stormwater management system in an amount equal to the estimated cost of the construction.
(2) As used in this Article, a certificate of guarantee is an instrument issued by an organization approved by the Director that satisfies the capitalization criteria and other reasonable criteria established by regulation. The certificate of guarantee must only be issued by the approved organization on behalf of the organization’s members in good standing. Only the Director may resolve questions concerning an applicant’s eligibility to post a certificate of guarantee.
(3) The bond, letter of credit, certificate of guarantee, or other instrument must be conditioned on the faithful performance of the terms and conditions of an approved stormwater management plan and construction of the system as provided in that plan and under this Article. The bond, letter of credit, certificate of guarantee, or other instrument must inure to the benefit of the County if the applicant or owner does not comply with the conditions of the bond, letter of credit, certificate of guarantee, or other instrument.
(1) The Director must not release a bond, letter of credit, certificate of guarantee, or other instrument until the applicant has submitted “as-built” plans and the Department has issued a certification of completion based on the Director’s finding, after having performed a final inspection, that the stormwater management system complies with the approved plan and this Article.
(2) The Department may agree with an applicant regarding the stages of the work to be done on the system. After completing each stage, the applicant must notify the Department that the applicant is ready for an inspection and, after the Director certifies that the applicant has completed that stage of work under the approved plan and this Article, the Director may reduce the bond, letter of credit, certificate of guarantee, or other instrument pro rata, or may direct the Director of Finance to refund to the applicant a prorated share of the amount that the applicant deposited with the County.
(c) Revocation of permit. The Director must immediately revoke a building permit if the permittee does not maintain the bond, letter of credit, certificate of guarantee, or other instrument. If the Director finds that an organization issuing certificates of guarantee has violated an applicable law or regulation, the Director may immediately revoke any permit held by that organization’s members to which a certificate of guarantee applies. (1980 L.M.C., ch. 60, § 3; 1985 L.M.C., ch. 27, § 1; 2001 L.M.C., ch. 27 , § 1; 2002 L.M.C., ch. 3 , § 1; 2010 L.M.C., ch. 34 , § 1; 2011 L.M.C., ch. 5 , § 1.)