§ 153.15 SECURITIES (BONDS AND BOND RELEASES).
   (A)   Purpose and intent. The intent of this section is to establish the procedures for setting a stormwater permit bond amount and to establish the bond reduction and release requirements.
   (B)   Applicability.
      (1)   This section shall apply to all land-disturbing activities subject to this chapter.
      (2)   For subdivisions, the bond will cover all the erosion and sediment control devices and cover stormwater facilities that are outside the road right-of-way and that are not appurtenant to the road drainage system.
      (3)   For individual sites requiring a stormwater permit, the bond will cover the erosion and sediment control devices, detention/retention basins and all related construction.
   (C)   Stormwater permit bond.
      (1)   A bond in the amount of 130% of an engineer’s probable cost opinion for the approved stormwater control devices and measures shall be posted before any land-disturbing activities occur.
      (2)   A stormwater permit shall not be issued for land-disturbing activities until the permittee posts the appropriate bond with the county. The bond shall be an acceptable surety as defined in § 7.8(A) of the county subdivision regulations and be in the name of County Fiscal Court.
      (3)   The bond shall include the following provisions.
         (a)   The permittee shall comply with all the provisions of this chapter that apply to the proposed land-disturbing activities and all other applicable laws and ordinances.
         (b)   The permittee shall continue inspections and maintenance as described in the stormwater permit until the county accepts the post-construction site conditions.
         (c)   An evergreen clause shall be included on the bond and expiration dates shall meet the intended schedule of construction.
         (d)   The bond shall remain in full force and effect until the termination activities have been recognized and approved by the county.
         (e)   Failure to complete corrective actions within 30 days when a stop work order has been issued shall cause the bond to be forfeited to the county and the matter turned over to the County Attorney.
   (D)   Bond reduction.
      (1)   The stormwater permit bond may be reduced once when the designed devices and control measures are in place and functioning.
      (2)   The following procedure shall be used when a permittee requests a bond reduction:
         (a)   The permittee shall submit a written request to the county for the bond reduction. The written request shall include the project engineer’s sealed certification regarding substantial completion of the construction;
         (b)   The county shall make a written report regarding inspections and whether a bond reduction is warranted;
         (c)   When the county’s written report includes a recommendation for the bond reduction, the county will send out a bond reduction letter based on that recommendation within ten working days; and
         (d)   The bond will be reduced to an amount that is 50% of the original bond amount
   (E)   Bond release.
      (1)   The bond may be released when all requirements are met:
         (a)   For residential subdivisions, 70% of the houses have passed the rough electric and framing inspections in a specific approved phase of the subdivision or up to three years time has elapsed from the date the permit was issued;
         (b)   For commercial or industrial subdivisions, buildings have been constructed on 70% of the lots in a specific approved phase of the subdivision or up to three years time has elapsed from the date the permit was issued;
         (c)   For individual sites to include apartments and condominiums, the land-disturbing activities are complete or three years time has elapsed from the date the permit was issued; and
         (d)   Once the requirements set forth above have been met, the permittee can request release of the remaining stormwater permit bond.
      (2)   The following procedure shall be used when a permittee requests a bond release.
         (a)   The permittee shall submit a written request to the county for bond release. The written request shall include the project engineer’s sealed certification regarding substantial completion of construction in accordance with this chapter and the stormwater permit.
         (b)   The county shall inspect the subdivision or project within seven calendar days. If deficiencies are noted, the permittee, according to the procedures in this chapter, must make the needed improvements before any additional inspections occur.
         (c)   The county shall report in writing regarding the inspections and whether a bond release is warranted. The county’s written report shall include a recommended action regarding the bond release. When the county’s written report contains a recommendation for a bond release, the county will seek approval from the County Fiscal Court. Upon approval, the county will then send out a bond release letter within ten working days.
      (3)   Upon receiving the bond release letter, the permittee shall be released from all further obligations under this chapter with the exception that the application of best management practices shall continue after bond release until all construction has ceased.
(Ord. 05-830-326, passed 12-20-2005)