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This surety standards (SY) section applies to the following types of development:

A. Construction/Performance Surety.

1. Cross Reference. See JCC 20.70.060, DD-01 – Dedication of public improvement standards.

2. General.

a. The Plan Commission shall require a bond or irrevocable letter of credit to cover the cost and installation of the proposed public improvements. Said performance surety shall be posted after the plat is recorded and before construction of the proposed public improvements commences on site.

b. All petitioners shall provide a performance surety to the County for any street, sidewalk, path, utility, drainage facility, or any other facility that is intended to be dedicated to the County. All such facilities on site, any off-site improvements committed to by the petitioner, and any off-site improvements required as a condition of approval shall be covered by the performance surety.

3. Requirements. The bond or letter of credit shall:

a. Be in an amount of one hundred ten percent (110%) of the estimated construction cost to complete the improvements and installations in compliance with the Unified Development Code and the Jasper County construction and engineering standards;

b. Run to and be in favor of the County;

c. Generally specify the time for the completion of the improvements and installations (both on site and off site); and

d. Be on a form approved by the County Commissioners.

4. Duration of Surety. All performance sureties shall be effective from the time the secondary plat is recorded until the final construction is approved by the County. The performance surety shall not be released until the Zoning Administrator has certified the improvements have been inspected during construction and after completion, and that they have been installed in accordance with the intent of the approved construction plans and specifications.

5. Alternative Surety.

a. At the election of the County Commissioners, a dedicated account in a form acceptable to the State Board of Accounts which may be established to hold and accumulate funds paid pursuant to the provisions of this section and which shall not thereafter be appropriated for any use unless it is associated with the completion of infrastructure improvements which had been approved by the County and which had not been completed after having been initiated for any reason whatsoever.

b. A developer may request that a payment in lieu of a bond or letter of credit be made to the County as a surety of completion or maintenance. The payment shall be no less than one and one-tenth percent (1.1%) of the estimated construction cost for the improvement or installation and is nonrefundable.

c. Nothing in this section shall in any way limit the ability of the County to give consideration to other alternative forms of insuring the proper completion of public improvement projects involving infrastructure which are to be dedicated to the County or for the benefit of the public. [Ord. 3-7-16A § 1; Ord. 12-27-11 § 7.25.]