(A) As a condition of approval and issuance of a stormwater permit, the city shall require the applicant to provide assurance in form of a performance bond, certified check, irrevocable letters of credit, or certificate of deposit before construction begins. If posting an assurance in accordance with the Knox County Subdivision Control Ordinance, § 53.52, the amount of the assurance must be made out to the Area Plan Commission, and must include 100% of the estimated cost of implementing measures required by §§ 53.040 through 53.043, §§ 53.050 through 53.054 and §§ 53.060 and 53.061. If no assurance is required under the Knox County Subdivision Control Ordinance, § 53.52, this chapter still requires an assurance, made out to the city, for an amount equal to 100% of the total costs of implementing measures required by §§ 53.040 through 53.043, §§ 53.050 through 53.054 and §§ 53.060 and 53.061. If, following assurance made to the city, the Area Plan Commission determines assurance is required by the Subdivision Ordinance, the assurance is transferable.
(B) The assurance will guarantee a good faith execution of the Stormwater Drainage Plan, the Stormwater Pollution Prevention Plan, the Stormwater Quality Management Plan, and any permit conditions. Said costs shall be for the installation and continuous monitoring and maintenance of erosion control measures and the construction and continuous monitoring and maintenance of storm drainage infrastructure, detention/retention facilities, and stormwater quality BMPs, as regulated under this chapter.
(C) The property owner, developer, or contractor shall be required to file a three-year maintenance bond or other acceptable guarantee with the city, prior to acceptance, in an amount not to exceed 10% of the cost of the stormwater drainage system located outside the public road right-of-ways, and in a form satisfactory to the city's attorney in order to assure that such stormwater system installation was done according to standards of good workmanship, that the materials used in the construction and installation were of good quality and construction, and that such project was done in accordance with the approved plans, and this chapter. The bond or other acceptable guarantee shall be in effect for a period of three years after the date of the final project approval by the city.
(Ord. 7-2006, passed 6-12-06)