10-17-18 Performance Security

The security of performance is required to assure the faithful performance of the terms and conditions of this ordinance and conditions of any Conditional Use Permit issued pursuant to this ordinance. Prior to issuance of a Building Permit for wireless telecommunications facilities, the applicant and the owner of record of any proposed wireless telecommunications facilities property site shall, at its cost and expense, be jointly required to execute and file with the City a security of performance in an amount of at least one and one-half (1 ½) times the reasonable value of the improvements and wireless telecommunication’s facilities required herein, as determined by the applicant’s engineer and approved by the city engineer. Securities of performance acceptable to the City are outlined in Section 11-5-1 B.2. The full amount of the bond or security shall remain in full force and effect throughout the term of the Conditional Use Permit and/or until any necessary site restoration is completed to restore the site to a condition comparable to that which existed prior to the issuance of the original Conditional Use Permit.