AG 1997 01 21 - Laserfiche WebLink

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BE IT ORDAINED that the Cabarrus County Subdivision Regulations, Chapter 66 of the code of Ordinances, Cabarrus County, North Carolina is hereby amended by adding a section to be numbered Section 66-79, which section reads as follows: LETTER OF CREDIT/PERFORMANCE BOND REQUIREMENTS When building permits are requested prior to completion of all improvements in a development, the following conditions shall apply: 1. Detailed est/~mates of all required improvements shall be submitted. These estimates shall be signed by licensed contractor(s) when applicable. 2. These estimates shall be reviewed and approved by a consulth~g engineer chosen by the County. This requirement is subject to payment of a $75.00 fee for the review. 3. A letter of credit or performance bond by a lender of surety acceptable to the County shall be made out to Cabarrus County in the amount of 125% of the costs determined in step 2 above. 4. The final map of the subdivision shah be approved and recorded. Prior to the reduction or release of the 125% amount required m step 3 above for completion of improvement(s), the following information must be provided when applicable: 1. Proof satisfactory to the County that the applicable improvement(s) has been made to the required specifications. 2. Proof satisfactory to the County that payment in full has been made to the applicable contractor and/or agency for the improvement(s). Upon proof of completion satisfactory to the County, of the required improvement(s), the amount that had been required for that improvement(s) may be released from the total amount required. The total amount of the letter or credit or bond for required improvements may be released when all in~provements are complete, and the above fl'fformation has been provided. Adopted this the day of Commissioners. , 1997 by the Cabarrus County Board of Sue B. Casper, Chairman Board of Commissioners ATTEST: Frankie F. Bonds, Clerk to the Board