18.63.160 Maintenance bond.
Upon completion of the required public improvements and prior to acceptance by the council, the subdivider/developer must submit a maintenance bond or alternative security approved by the city attorney in an amount determined by the city engineer and approved by the administrator. The maintenance bond amount shall be 100 percent of the actual cost of construction. An alternative security shall be in an amount not less than 10 percent nor more than 100 percent of the actual cost of construction. The amount shall be determined on a case-by-case basis based upon the city engineer’s estimated cost of repair or maintenance should repair or maintenance be required. The subdivider/developer shall submit documentation of the cost of construction to the city engineer for his review and approval and use in determining the required bond for alternative security amount. (Ord. 517 § 1, 2016; Ord. 416 § 1, 2009. Formerly 18.63.190)