Conditions for Release. Conditions for the release of the financial guarantee are as follows: (a) The Village Engineer shall release the portion of the financial guarantee established under this section, less any costs incurred by the Village Engineer to complete installation of practices, upon submission of "as built plans" by a licensed professional engineer. The Village Engineer may make provisions for a partial pro- rata release of the financial guarantee based on the completion of various development stages. (b) The Village Engineer shall release the portion of the financial guarantee established under this section to assure maintenance of storm water practices, less any costs incurred by the Village Engineer, at such time that the responsibility for practice maintenance is passed on to another entity via an approved maintenance agreement.
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Sources: Stormwater Management Ordinance
Conditions for Release. Conditions for the release of the financial guarantee are as follows:
(a) The Village Engineer shall release the portion of the financial guarantee established under this section, less any costs incurred by the Village Engineer to complete installation of practices, upon submission of "as built plans" or “record” drawings by a licensed professional engineer. The Village Engineer may make provisions for a partial pro- pro-rata release of the financial guarantee based on the completion of various development stages.
(b) The Village Engineer shall release the portion of the financial guarantee established under this section to assure maintenance of storm water practices, less any costs incurred by the Village Engineer, at such time that the responsibility for practice maintenance is passed on to another entity via an approved maintenance agreement.
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