§ 30-230. Bond requirement.
(a)
A grading permit shall not be issued unless the permittee shall first post a bond with the city engineer, executed by the landowner and a corporate surety with authority to do business in this state as a surety, or at the option of the city engineer, secured by a letter of credit drawn upon a bank doing business in the state, or having a state correspondent bank at which such letter of credit may be collected.
(b)
The bond or letter of credit, whichever is used, shall be in a form approved by the city attorney, payable to the city, and in the amount of the estimated total cost of all temporary or permanent soil erosion control measures. The city engineer or the engineer's designee shall verify the total cost. The bond or letter of credit, whichever is used, shall include penalty provisions for failure to complete the work on schedule as specified in the grading permit. In lieu of a surety bond or other instrument of credit, the applicant may file with the city a cash bond or other instrument of credit which gives the city at least equal security protection, approved by the city attorney in the amount equal to that which would be provided for in the surety bond or letter of credit.
(c)
Every bond and letter of credit or other instrument of credit shall include and every cash deposit shall be made on the conditions that the permittee shall comply with all of the provisions of this article and all of the terms and condition of the grading permit, and shall complete all of the work contemplated under the grading permit with the time limit specified in the grading permit, or if no time limit is specified, within 180 days after the date of issuance of the grading permit.
(d)
A bond and surety thereon, or letter of credit, whichever is used, will be released to applicant 410 days after the certificate of completion has been approved by the city engineer, provided the city engineer or the engineer's designee, after field inspection, is satisfied the work completed under the grading permit is functioning as represented by the applicant, or, in the event defects are identified during the inspection, the applicant satisfactorily corrects all the defects identified in writing by the city engineer or the engineer's designee, and said corrections are accepted by the city engineer.
(e)
If the permittee does not successfully complete all required work or violates any requirement of the permit or this article, the city may take corrective measures and charge the cost of such to the permittee. Such costs shall include the actual cost of any work deemed necessary by the city plus reasonable administrative and inspection costs and penalties. If the total of such costs exceeds the security, the permittee shall be responsible for payment of the remaining balance within 30 calendar days of receipt of an accounting of such from the city.
(Ord. No. 12-12, § 15, 11-20-2012)