A maintenance warranty bond in the amount 20% of the total cost of the construction of infrastructure improvements is required. Said maintenance warranty bond is to be in force for two years following the acceptance by the town of the final improvements. The bond shall be from a company licensed as a surety in the State of Florida, listed by the United States Treasury Department, and rated A: AAA in Best's Insurance Guide.
(Ord. 2018-05, passed 9-25-2018)