§ 20-90. Performance bond, rectification of deficits; substitute bond.

(a)

Any property owner constructing a water or sewer system extension shall provide a performance bond in the penal sum of not less than one hundred per cent (100%) of the estimated cost of such construction with such costs being furnished by an engineer licensed to practice in the State of Florida and certified to the city. The city attorney shall review and approve the form and type of bond required by this section.

(b)

The property owner shall further agree, in a format approved by the city attorney, to maintain, keep in good repair and rectify any defects, irregularities or inadequacies in all such facilities for a period of one year, which one-year period is to run from the date said facilities are completely installed and accepted by the city. Such duty to maintain said facilities shall likewise be accompanied by a bond, which bond shall meet the requirements of the bond hereinabove described. The property owner, however, may at his election, substitute a bond furnished by the contractor or subcontractor furnishing, installing or constructing the various facilities involved; in which event, said bond shall also run to the City of South Daytona, Florida, and shall be approved by the city engineer and the city attorney. In no event shall any such substitute bond be deemed effective or acceptable to the city, unless and until the said contractor or subcontractor's receipt or letter evidencing full payment or satisfaction by the property owner to said contractor or subcontractor is delivered to the city clerk.

(Ord. No. 81-29, § 1(20-67), 9-22-81)