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SECTION 7: BONDS AND LIABILITY INSURANCE REQUIRED. <br /> Section 7 of Ordinance 2182-96 (previously amended by Ord.3168-10 § 7 and Ord. 2196-97 <br /> § 7 and currently codified at EMC 14.28.420),which reads as follows: <br /> A. The City Engineer is authorized to require developers constructing retention/detention <br /> and/or other drainage treatment/abatement facilities serving areas larger than one acre to <br /> post surety bond(s) or other form of guarantee acceptable to the City. <br /> B. Where such developers have previously posted, or are required to post, other such bonds <br /> on the facility itself or on other construction related to the facility, such person may, with <br /> the permission of the City Engineer and to the extent allowable by law, combine all such <br /> bonds into a single bond, provided that at no time shall the amount thus bonded by less <br /> than the total amount which would have been required in the form of separate bonds, and <br /> provided further that such a bond shall on its face clearly delineate those separate bonds <br /> which it is intended to replace. <br /> C. Performance Bond. Prior to commencing construction, the developer constructing the <br /> facility shall post a performance bond in an amount of one hundred twenty percent of the <br /> cost of construction per, the approved drainage plans. After determination by the City <br /> Engineer that all facilities are constructed in compliance with the approved plans, the <br /> perfoimance bond shall be released. Alternatively, an equivalent cash deposit to an <br /> escrow account administered by a local bank designated by the City may be acceptable. <br /> D. Maintenance Warranty Bonds. After satisfactory completion of the facilities and release <br /> of the performance bond by the City, the developer constructing the facility shall <br /> commence a two-(2) year period of satisfactory maintenance of the facility. A warranty <br /> bond to be used at the discretion of the City Engineer to correct deficiencies in said <br /> maintenance affecting public health, safety and welfare must be posted and maintained <br /> throughout the two year maintenance period. The amount of the warranty bond shall be <br /> ten percent of the estimated construction cost of the drainage facilities. In addition, the <br /> warranty bond shall cover the cost of design defects and/or failures in workmanship of <br /> the facilities throughout the two year maintenance period. Alternatively, an equivalent <br /> 32 <br /> 33 <br />