§ 156.146. Application.

(A)

Before the recording of final subdivision plats, the City Council may require and shall accept in accordance with the standards adopted by this chapter the following guarantees:

(1)

The furnishing of a performance guarantee in an amount not to exceed one hundred twenty (120%) percent of the cost of installation for improvements, if the plat is to be recorded prior to the installation of the improvements (also see section 156.059); and/or

(2)

Provision for a maintenance guarantee for all improvements to be owned and operated by the City for a period not to exceed two (2) years after final acceptance of the improvements, in an amount not to exceed fifteen (15%) percent of the cost of the improvements. In the event that other governmental agencies or public utilities will own the utilities to be installed, or the improvements are covered by a performance or maintenance guarantee to another governmental agency, the City Council may waive the requirement for the maintenance guarantee.

(B)

The time allowed for installation of the improvements for which the performance guarantee has been provided may be extended by the City Council by resolution, but should not exceed the requirements as set forth in section 156.039.

(C)

During the maintenance period, the owner/developer will be expected to provide any maintenance required. This includes, but is not limited to:

(1)

Approximately sixty (60) days prior to the expiration of the maintenance period the City Engineer and/or other appropriate City department will schedule a final inspection.

(2)

Prior to release of the maintenance guarantee the owner/ developer will be required to correct any maintenance problems and design deficiencies.

(Ord. 94-7, passed 3-14-94; Ord. No. 99-42, § 1, 6-28-99)