§ 716-4.1202. Performance bond—Required.*

If the county building official determines that the proposed work involves more than fifty thousand cubic yards (thirty-eighty thousand two hundred thirty cubic meters) and will not be completed before the rainfall months, or that the nature of the proposed work is such that if left incomplete it will interfere with any natural or artificial drainage or will endanger adjoining property or a street, or will create a hazard to human life or any property or street, the owner shall furnish a bond, whether cash or corporate surety bond at his option (but five hundred dollars of every bond must be in cash), in a form approved by the county counsel or an instrument or instruments of credit approved by the county counsel from one or more financial institutions subject to regulation by the state or federal government pledging that the funds necessary to meet the performance are on deposit and guaranteed for payment on demand and agreeing that the funds designated by the instrument shall become trust funds for the purposes set forth in the instrument.

(Ords. 99-46 § 9: 69-59 § 1, 1969).

* For county counsel, see Ch. 24-12.