§ 92-21. Performance guarantees.  


Latest version.
  • City may require that the applicant post a performance guarantee in the form of an acceptable irrevocable letter of credit or a performance bond issued by a surety company authorized to do business in the State of Michigan. The performance guarantee shall be in an amount determined by the city. Required performance guarantees shall be provided to the city after approval of the stormwater plan, but prior to the initiation of any earth change.

    After determination by the city's engineer or his/her designee(s) for site plans, or by the Bay County Drain Commissioner for site condominiums and subdivisions, that all facilities are completed in compliance with the approved plan, the posted performance guarantee remaining shall be released.

(Ord. No. 2017-17 , 11-6-17)