1-19 GENERAL PROVISIONS: Improvements – Performance bonds

(1) Any on-site and off-site improvements required by this land use ordinance or by the planning commission, including curb, gutter, sidewalk, fences, landscaping, streets, fire hydrants, signs, and parking, shall be satisfactorily installed prior to Erda authorizing electrical service being provided; or, if no electrical service is required, prior to issuance of any occupancy permit for the land or structure being developed or constructed. (2) In lieu of actual completion of required on-site and off-site improvements prior to electrical service being provided or the issuance of an occupancy permit, a developer, contractor or land owner may file with the City a cash bond, escrow agreement, or other approved form of financial assurance, in an amount equal to 100% of the cost of construction as determined by the department of engineering, to ensure completion of the improvements within one year. Ten percent of the bond amount for such improvements shall extend for a one-year period beyond the date the improvements are completed, to guarantee replacement if such improvements become defective or missing. Upon completion of the improvements for which a cash bond or escrow agreement has been filed, the developer, contractor or land owner shall call for inspections of the improvements by the department of engineering. (3) To protect the health, safety and welfare of persons from traffic, flood, drainage or other hazards, the planning commission or Council may determine that the required improvements should be completed in a specific sequence and/or in less than a one-year period. The Council may require in approving the cash bond or escrow agreement that the improvements be installed in a specified sequence and period which may be less than one year and shall incorporate such requirements in the bond. (4) When the developer, contractor or landowner is a school district, municipality, service area, special-purpose district, or other political subdivision of the state, the Council may waive the cash bond or escrow agreement and accept a letter from the governing body thereof, guaranteeing installation of the improvements. Before approving any such waiver, the Council shall receive a recommendation from the department of engineering.