§ 70-604.4. Final and complete release of surety.

(a)

In addition to the written request for release of surety and 30-day time period as established, above, the subdivider or developer shall submit a second written request for the final and complete release of surety. The agent shall approve or deny the request within ten working days of receipt of the request for final release. If no action is taken the request shall be deemed approved and final release granted to the subdivider or developer.

(b)

Upon final completion and acceptance of the facilities, the agent shall release any remaining bond, escrow, irrevocable letter of credit, or other performance guarantee to the subdivider or developer. For the purpose of final release, the term "acceptance" means: when the public facility is accepted by and taken over for operation and maintenance by the county or other public agency which is responsible for maintaining and operating such facility.

(Ord. No. O-09-02, 1-27-2009)

(Ord. No. O-09-02, 1-27-2009)