§ 46-116. Performance escrow.

Latest version.

Permittees, other than telecommunications providers, shall submit a performance escrow prior to the issuance of the permit (telecommunications providers may be required to post a bond or letter of credit as set forth in Section 5(d) of the Telecommunications Ordinance). The amount shall be 50 percent of the total cost of construction for any work being completed, and shall be submitted to the city offices. Upon the city's inspection and approval of the work, the performance escrow will be refunded to the permittee.

(Ord. No. 17-2003, § 17, 10-27-2003)

                    
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