§ 23.07. Performance Guarantees

(a)

Where required by this ordinance or as a condition of approval for a permit under this ordinance, a guarantee in a form acceptable to the county or city, such as a bond, cash deposit, certified check or irrevocable bank letter of credit shall be provided.

(b)

In instances where all required improvements are not completed, and a temporary certificate of occupancy is requested, the estimated cost of completing the improvements shall be provided in the form of a guarantee acceptable to the county or city, such as a bond, cash deposit, certified check or irrevocable bank letter of credit.

(c)

The guarantee shall include a schedule of costs assigned to the different improvements. Monies may be released to the applicant in proportion to work completed on the different elements after inspection of work and approval of the enforcement official. Any partial release of funds shall not reduce the amount of the remaining guarantee to less than ten percent of the original amount, which shall be retained by the county or city until all work has been completed and subsequently inspected and approved by the enforcement official.