(a) Prior to the undertaking of any improvements, the proprietor shall deposit with the Planning Director cash, which shall be deposited with the Finance Department, a certified check or irrevocable bank letter or credit, whichever the City selects, or a surety bond acceptable to the Municipal Planning Commission, to insure faithful completion of all improvements within the time specified. The amount of the deposit shall be set by the Municipal Planning Commission based on an estimate of the City Engineer. The Planning Director upon approval by the City Engineer shall authorize for the release of funds for the payment of work as it is completed and approved by the municipality.
(b) Prior to the acceptance by the City of the improvements, a two (2) year maintenance bond in an amount set by the City Engineer shall be posted by the proprietor. Improvements shall be provided by the proprietor in accordance with the requirements established by this ordinance and/or any other such standards and requirements which may, from time to time, be established by ordinance or published rules of the City.
(Ord. 0-1344. Passed 5-12-09.)