(A) In addition to as-built plans and the certification of completion and compliance, following the release of performance assurances, the property owner, developer, or contractor shall be required to file a 2-year maintenance bond or other acceptable guarantee with the city in an amount not to exceed 25% of the cost of the stormwater management system located outside the public road rights-of-way, and in a form satisfactory to the city 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 accepted plans, and this chapter and that any off-site drainage problems that may arise, whether upstream or downstream of such project, will be corrected if such drainage problems are determined by jurisdictional entity to have been caused by the development of such project. The bond or other acceptable guarantee shall be in effect for a period of 2 years after the date of the release of required performance assurances referenced in § 52B.086. The beneficiary of all maintenance bonds shall be the city.
(Ord. 10-2024, passed 7-8-2024)