A. Scope. An agreement, which shall be recorded by the county, for appropriate improvement assurances shall be provided by the developer to assure the installation of all subdivision improvements prior to the recordation of any plat.
B. Term. Assurances shall specify the date by which the improvements shall be completed.
C. Beneficiary. Pima County shall be named as beneficiary of the assurance.
D. Exceptions.
1. No assurances shall be required for subdivisions which have had all required improvements completed in accordance with this chapter.
2. The subdivision plat shall have an assurances waiver block indicating that no assurances are required.
E. Posting of Assurances. The approved forms of assurances are as follows:
1. Cash or certified check;
2. Surety (performance) bonds executed by a company authorized and licensed to do business in the state of Arizona, ensuring the performance of the principal (developer or owner) as required by this chapter;
3. Certificate of deposit, United States Treasury Bills, or any security guaranteed by the United States Government, state of Arizona, or any political subdivision thereof;
4. A deposit of money or negotiable bonds, of the kind approved for securing deposits of public monies, with a responsible escrow agent or trust company authorized and licensed to do business in the state of Arizona;
5. An irrevocable letter of credit in favor of Pima County from a third-part financial institution authorized and licensed to do business in the state of Arizona;
6. The placement of the title to the subdivision in trust with a third-party escrow agency or trust company authorized and licensed to do business in the state of Arizona along with an agreement between the trustee and Pima County that title to any lot or parcel within the subdivision shall not be transferred until all improvements required by these regulations have been installed, accepted by Pima County, and written approval for release has been granted by Pima County to the escrow agency or trust company holding the property in trust. The agreement shall contain a condition authorizing Pima County to abandon the subdivision and resubdivide the property should the required improvements fail to be installed in compliance with Pima County's standard specifications;
7. A trust account in the name of Pima County in a bank or trust company authorized and licensed to do business in the state of Arizona. Periodic withdrawals may be made from the trust account for a progressive payment of installation costs by a trustee selected or approved by the county. The amount of such withdrawals shall be based upon progress work estimates and shall be approved by the county engineer and the trustee.
F. Board of supervisors' Approval. The approval of the board of supervisors shall be endorsed in writing on the plat and shall include specific identification of an approval of the assurances required by these regulations.
G. Substitute Assurances and Time Extensions.
1. Requests for substitute assurances or assurance agreement time extensions shall be submitted in writing to the subdivision coordinator for review by the department of transportation and flood control district and the wastewater management department.
2. These departments shall provide written recommendations within ten working days to the subdivision coordinator who shall forward the recommendations to the board of supervisors for final decision.
H. Release of Assurances.
1. Requests to release subdivision assurances shall be submitted in writing to the subdivision coordinator for review by the department of transportation and flood control district and the wastewater management department;
2. These departments shall provide written recommendations within ten working days to the subdivision coordinator, who shall forward them to the county manager for final decision.
(Ord. 1985-82 (part), 1985)