§ 16.32.320. Surety bond.

Latest version.

To assure that the improvements specified are satisfactorily completed as required, a surety bond shall be furnished by the subdivider for the cost of the improvements in a sum or amount equal to the cost estimate approved by the city engineer. In lieu of the performance bond, a cash deposit, instrument of credit or lien agreement shall be made with the city or with a neutral escrow depository as provided in the Subdivision Map Act. Partial release of the bond may be made in accordance with the provisions of Section 66499.7 of the Government Code. The bond shall be fully released by the city council upon completion of the warranty period or upon revocation to acreage of the subdivision, and abandonment of all roads and easements.

(Ord. 1095 §5 (Exh. A (part)), 2003: Ord. 1094 §5 (Exh. A (part)), 2003).

                    
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