G. - Maintenance (warranty) bonds.

1.

Prior to (1) the release of the subdivision performance bond, and (2) the city or state acceptance of streets and other public facilities subject to initial surety requirements, a maintenance (or warranty) bond shall be required for such subdivision improvements.

2.

The subdivider shall furnish surety in the same manner as a subdivision bond, in an amount sufficient for and conditioned upon the maintenance of the improvements until such time as the improvements are accepted. The form and type of surety shall be approved by the zoning administrator upon review and recommendation by the city attorney.

3.

The maintenance bond shall apply to streets, roads, curbs, guttering, street lighting, storm drainage improvements, stormwater management facilities, utilities, other related improvements as may be required by the city, including the reconstruction and repaving of any public street or road before the road may be accepted into the public system.

4.

The maintenance bond shall be equal to or greater in value than an amount equaling twenty (20) percent of the total construction cost of the subdivision improvements.

5.

The timeframe for the duration of the maintenance bond shall be determined by the zoning administrator upon recommendation of the city engineer at the time of the release of the surety bond.