The subdivider must also furnish, as a condition of acceptance of the public improvements, a maintenance bond, in the amount equal to 50% of the estimated costs of the public improvements in said subdivision, in the form specified for construction performance bonds described in § 153.034. The condition of the maintenance bond shall be that the principal shall guarantee maintenance of the public improvements for a period of one year from the release of the construction bond. The Board of Trustees shall release maintenance bonds and the surety thereon upon satisfaction of the conditions of the bond.
(Ord. 97-7, passed 7-1-1997, § 5.11)