At the time of acceptance of the improvements by City Council, a maintenance bond shall be posted with the City Manager in the amount of ten percent (10%) of the cost of improvements and shall be arranged for a period of 12 months from date of acceptance of improvements. Said bond shall be in the form of either a cash deposit or corporate surety bond in form approved by the Law Director.
During the maintenance guarantee period, the subdivider shall make repairs resulting from erosion or abuse by private utility companies and shall repair all failures for all other reasons. The streets, street trees, monuments, and other improvements shall be in a condition acceptable to the City Manager at the end of the maintenance period. If the subdivider fails to perform such maintenance to the complete satisfaction of the City Manager, the City Manager may claim such portion of the guarantee as is required to pay for the necessary repairs to the improvements.
(Ord. 96-82 AC. Passed 9-16-96.)