Ordinance 3528-16 - Laserfiche WebLink

A. The City Engineer is authorized to require developers constructing retention/detention and/or other drainage treatment/abatement facilities serving areas larger than one acre to post surety bond(s)or other form of guarantee acceptable to the City. B. Where such developers have previously posted, or are required to post, other such bonds on the facility itself or on other construction related to the facility, such person may, with the permission of the City Engineer and to the extent allowable by law, combine all such bonds into a single bond, provided that at no time shall the amount thus bonded by less than the total amount which would have been required in the form of separate bonds, and provided further that such a bond shall on its face clearly delineate those separate bonds which it is intended to replace. C. Performance Bond. Prior to commencing construction, the developer constructing the facility shall post a performance bond in an amount of one hundred twenty percent of the cost of construction per the approved drainage plans. After determination by the City Engineer that all facilities are constructed in compliance with the approved plans, the performance bond shall be released. Alternatively, an equivalent cash deposit to an escrow account administered by a local bank designated by the City may be acceptable. D. Maintenance Warranty Bonds. After satisfactory completion of the facilities and release of the performance bond by the City, the developer constructing the facility shall commence a two-(2) year period of satisfactory maintenance of the facility. A warranty bond to be used at the discretion of the City Engineer to correct deficiencies in said maintenance affecting public health, safety and welfare must be posted and maintained throughout the two year maintenance period. The amount of the warranty bond shall be ten percent of the estimated construction cost of the drainage facilities. In addition, the warranty bond shall cover the cost of design defects and/or failures in workmanship of the facilities throughout the two year maintenance period. Alternatively, an equivalent cash deposit to an escrow account administered by a local bank designated by the City may be acceptable. E. Liability Insurance. The developer constructing the facility shall maintain a liability insurance policy in the amount of five hundred thousand dollars per individual, one million dollars per occurrence, and five hundred thousand dollars property damage, 30