Bonding for the work may be requested (Code of Ordinances Chapter 64 Section 4). The value of the bond is based on the construction valuations for public improvements provided by the professional engineer. The permit staff will request an electronic copy of the bond for review before accepting the signed original document. Only bonds presented on city-approved forms are accepted (see the bonding options and links to forms below).
Performance Bond: A performance bond is a surety bond obtained through an insurance company that guarantees the satisfactory completion of a construction project (performance obligations) by a developer/owner. This bond type is used for construction of street lights, traffic signals, and site disturbance (when upstream from a body of water). The bond is released after the final inspection and acceptance of the work.
Maintenance Bond: A maintenance bond is a surety bond that ensures acceptable condition of the work for two years after the improvements are field verified by the inspector. This bond type may be used for sanitary sewer, storm sewer, street, ADA ramp, and stream buffer construction. The bond is released after the final maintenance period inspection and acceptance of the work.
Performance and Maintenance Bond: A performance and maintenance bond is a combination surety bond that can be used for sanitary sewer, storm sewer, street, ADA ramp, and stream buffer construction. The bond is released after the final maintenance period inspection and acceptance of the work.
Letter of Credit: A letter of credit (LOC) is a document issued by a bank or other financial institution guaranteeing that required funds are available for any incomplete construction or needed repairs. It can be used instead of a surety bond or payment in lieu of bond and is released after the final maintenance period inspection (if applicable) and acceptance of the work.
Payment in Lieu of Bond and/or Cash Deposit Form: Cash or check in the bond amount may be deposited with the City. It may be used instead of a surety bond and is released after the final maintenance period inspection (if applicable) and acceptance of the work.