Title 17D City-wide Standards
Chapter 17D.020 Financial Guarantees
Section 17D.020.060 Project Agreement
In each case where the City requires or allows an applicant to post a financial guarantee, the applicant, the owner of the subject property, and the City shall sign a project agreement prepared by the City stating the following:
- The work or improvements covered by the financial guarantee.
- The amount and nature of the financial guarantee and the amount of the cash deposit.
- The period of time covered by the performance/warranty retainer, which will be two years or such longer period as is required by this chapter or determined by the director of engineering services.
- The rights and duties of the City and applicant as established in this chapter.
Following review and approval as to form by the office of the city attorney, the mayor is hereby authorized to execute such agreements on the City’s behalf without individual approval of each agreement by the city council. The city clerk is authorized to attest such signatures. The mayor may, in the mayor’s discretion, place any specific agreement on the council’s agenda for individual council authorization as he or she may see fit.
Date Passed: Monday, August 4, 2008
Effective Date: Saturday, September 6, 2008
ORD C34286 Section 1