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    Sec. 24.1-25.1. Partial and Final Release of Certain Performance Guarantees.

     

    Sec. 24.1-25.1. Partial and final release of certain performance guarantees.
     
    (a) The city shall provide for the periodic partial and final complete release of any performance guarantee required by the city under this article within thirty (30) days after receipt of written notice by the subdivider of completion of part or all of any required public facilities unless the city engineer notifies the subdivider in writing of nonreceipt of approval, or of any specified defects or deficiencies in construction and suggested corrective measures prior to the expiration of the thirty (30) day period. Any inspection of such public facilities shall be based solely upon conformance with the Manual of Specification and Standard Details and the approved design plan for the facilities for which the performance guarantee is applicable, and shall not include the approval of any person other than an employee of the city or a person who has contracted with the city.
     
    (b) If no such action is taken by the city within the time specified above, the request shall be deemed approved, and a partial release shall be granted to the subdivider. No final release shall be granted until after expiration of such thirty (30)-day period and there is an additional request in writing sent by certified mail return receipt to the city manager. The city engineer shall act within ten (10) working days of receipt of the request; then if no action is taken, the request shall be deemed approved and final release granted to the subdivider.
     
    (c) After receipt of the written notices required above, if the city takes no action within the times specified above and the subdivider files suit in the local circuit court to obtain partial or final release of a performance guarantee, the circuit court, upon finding the city was without good cause in failing to act, shall award such subdivider his reasonable costs and attorney’s fees.
     
    (d) The city shall not refuse to make a periodic partial or final release of a performance guarantee for any reason not directly related to the specified defects or deficiencies in construction of the public facilities covered by said performance guarantee.
     
    (e) Upon the completion of at least thirty (30) percent of the public facilities covered by any performance guarantee, and upon written request by the subdivider, the city shall make periodic partial releases of such performance guarantee in a cumulative amount equal to no less than ninety (90) percent of the original amount of the completed work for which the performance guarantee was taken. The city shall not be required to execute more than three (3) periodic partial releases in any twelve (12)-month period. Upon final completion and acceptance of the public facilities, the city shall release any remaining performance guarantee to the subdivider. For the purpose of final release, the term "acceptance" means: when he public facility is accepted by and taken over for operation and maintenance by the state agency, local government department or agency, or other public authority which is responsible for maintaining and operating such public facility upon acceptance. (Ord. of 4-27-10, Ord. No. O-10-034, eff. 7-1-10)
     
    Last updated date: 6/28/2010 11:36:06 AM