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HomeMy WebLinkAbout90 of 1979 - Amending section 42-6-5 specifying bond requirements for subdivisions and allowing cash bonds. , ROLL CALL VOTING Aye Nay Salt Lake City,Utah, June 19 lg 79 Mr.Chairman /, -I ;,i r AEeii C�!.1".td-1 FF y. I move tirt t Ordinance be ipassed. G Phillips Result ORDINA L 'L i AN ORDINANCE, AMENDING Section 42-a-5 of the Revised Ordinances of Salt Lake City, Utah, 1965, relating to bonds required. Be it ordained by the Board of Commissioners of Salt Lake City, Utah: SECTION 1. That Section 42-6-5 of the Revised Ordinances of Salt Lake City, Utah, 1965, relating to bonds required, be, and the same hereby is, amended as follows: Sec. 42-6-5. Security required. (1) The subdivider shall file with the agreement required by Section 42-6-4 a performance bond and a labor and material bond in an amount equal. to the estimated cost of public improvements. Said bonds may be either cash bonds, corporate surety bonds or letter of credit. Said guarantees shall extend for a one-year period beyond the date said improvements are completed, as certified by the City Engineer, to guarantee the replacement of defective improvements. (2) In the case of a corporate surety bond, in the event a subdivider shall fail to complete all improvement work in accordance with the provisions of this subdividers bondsman to complete said work or the City may complete the work and in the case of a corporate surety, call upon the surety for reimbursement; in the case of a cash bond, the subdivider shall forfeit to the City the money to pay for the costs of completion. If the amount of the bond shall exceed all costs and expenses incurred by the City, the City shall release the remainder of said bond; and if the amount of the bond shall he • less than the costs and expenses incurred by the City, the subdivider(s) shall be personally liable to the City for such differences. (3) In the case of a cash bond, the terms among other requirements shall contain the following: 100% cash payment shall be made to the City Treasurer prior to final approval of the subdivision plat by the Board of Commissioners of Salt Lake City Corporation. The Engineering Office shall monitor the progress of the work and upon completion of 25% of the work shall. notify the Treasurer to release 15% of the amount of the bond to the subdivider. Upon completion of 50% of the work, the Engineer shall notify the Treasurer to release an additional 10% of the amount of the bond for a total of 25% refunded. Upon completion of 75% of the improvements, the Engineer shall notiy the Treasurer to release an additional 25%, making a total of 50% released to the subdivider. Upon comnletion of 100% of the work, the Engineer shall. notify the Treasurer to release an additional 25% for a total of 75% being released to the subdivider. The remaining 25% shall he held for one year from date of completion of the project to make certain that the improvements remain in good condition for the year. At the end of the year the City Engineer shall notify the Treasurer to refund the final 25%. All • sums shall he returned to the subdivider without interest--the interest on money being reimbursement to the City for costs of supervision of the account; provided, however, that the foregoing provisions shall not apply to amounts required for erosion control and slope stabilization requirements. (4) In the case of a letter of credit, the terms shall he that the letter of credit shall he irrevocable without the express written consent of Salt Lake City Corporation. All other terms and conditions for a letter of credit shall be the same as for a cash bond. (5) Where it is required to provide erosion control and slope stabilization facilities in subdivisions the estimated cost shall he set forth as a separate figure. Upon completion of the facilities, 50% of the fund shall he returned to subdivider; 50% shall be retained for 2 growing seasons to make certain the growth has taken hold. All dead vegetation shall be replanted at the end of the second growing season, provided sufficient vegetation is viable to fulfill the purposes of slope stability. Said monies shall he returned without interest--said interest being reimbursement to City for costs of supervision of the account. SECTION 2. In the opinion of the Board of Commissioners of Salt Lake City, Utah, it is necessary to the health, peace and welfare of the inhabitants of Salt Lake City that this ordinance become effective immediately. SECTION 3. This ordinance shall become effective upon the date of its first publication. Passed by the Board of C-imissioners L C. Utah, this 19th day of Jun , 1979f T 'T.o ary Chairman CITY PECOR S. (SEAL) BILL NO.90 of 1979 Published June 23, 1979 -2- Affidavit of Publication STATE OF UTAH, ss. County of Salt Lake -- - AN ORDINANCE Shana D. Conaty AN ORDINANCE AMENDING Section 12-6-5 of the Revised Ordinances of Salt Lake City,Utah,1965,relating to bonds requBe it ordained by the Board of Commissioners of Sall Lake City,Utah: SECTION 1.That Section.12.6.5 of the Revised Ordinances of Salt Lake by is tah,amenb 'aelol� �O bonds required'be,and the Being first duly sworn,deposes and says that he is legal ems 12-65.Security required.(u The subdivider shall hie advertising clerk of the DESERET NEWS, a daily with Me agreement required b section 1 -A a performance ondo d a labor and material by In an amount equal to Me (except Sunday) newspaper in the English cash bonds, of public imoroye�nndiss-Said bondsmay be either P Yprintedg antees shall corporate or rperiod bter eyond the dale language with general circulation in Utah, and ou ee-yea I mesaid Improvements re competed,as certified ve Me City published in Salt Lake City, Salt Lake County, in the n seer,to guarantee-lM1c replacement of defective Improve e"ilr In the case of a corporate surety bond,in the event a State of Utah. subdivider shall fall to complete all improvement work in accordance with the provisions of this subdivider's bondsman to coplete sold work or the City may complete the work and in the e of a corporate surety, the surety for reimburse- That the le tail upon al notice of which a copyis attached hereto ant;in case of a cash band,Me subdivider shall forfeit to g the City the money to for the costs of completion.If the amount of the bond shall exceed all costs and expanses incurred line mi'oyu"nt ooHoe none release h 11 be ids than remainder caosks and expenses Pub notice to amend an ordinance relating to incurred by the City,the subdivIderlsi shall be personalty liable to the City for such aifterences. (3)In theof a cash bard,the terms among-ether mq irementscaseshah fain the following:10D%cash payment bonds required ail be made o the city Treasurer prior to final approval of the subdivision Plat by the Board of Commissioners of salt La lke City ress aCorporation.k and PPP.cooieeietionffice of 25 shall if Menitor work shall notify the the work to release 15%of the amount of the band to the subdivider.Upon completion of 50%of Me park,flu Engineer shall notify the Treasurer to release an additional to%of the amount of the bond for a total of 25%refunded.Upon completion o1 75%of the improvements,the Engineer shall malty the Treasurer to release an additional 25%,making a total of 5090 released to the subdivider.Unan completion of 100%of the work, the Engineer shall notify fee Treasurer to release an additional 15%for a total of 75%helna released to the subdivider.The remaining 15%shall be held for one year from date of completion of he protect to make cortain that the Improvements remain in d condition for the r.At the end of the a the City good shall notify�edthe Treasurer to refund the final 25%.All June 23, 1979 interest of be nay beingrelimbu subdivider without te tytforscos�of was published in said newspaper on supervision of the account;provided,however,that the forrevoinn andMons shall not apply to amounts required for erosion control slope stabiiizaation requlrernents. letter oif the shall be irrevocable credit, the shall ess written ce of Salt Lake City Corporation.All other terms and \ ( - to, onditions fora letter of credit shall be the same as fora cash ,:, J \.. rl t; t f ) 1, _ _ 1 Shoo 15)Where It Is required to provide erosion control and slave stabilization facilities in subdivisions the estimated cost shall be Legal Advertisir g Clerk lerk t forth as a separate figure.Upon completion of Me facilities, 50%of the fund shall be returned to subdivider;50%shall be retained for 2 growing seasons to make certain the growth has taken hold.All dead vegetation shall be replanted at the end of the second growing season,provided sufficient vegetation is Wade to fulfill ill the purposes ni f slo testa stability. Said monies o ids shslll'e me this 29th day of be ail to Clty for costs of su,mrvlsion en the account re m SECTI DN 2.In the opinion of the Board of Cahn,peace of Sail Lake City,Utah,it Is necessary to the health,peace nce AA welfare of the Ie Irnmants of Salt Lake City that thin ordinance ...Ca.D. I9 79 come effective ordaterv. SECTION 3.This ordinance shall become eflttnve upon the ' date f its first publication. _ S y Passed by the Board of Commissioners of Salt Lake City, r r, J� Utah,this 19th day of dune,I979. d ENNI NOS PAiLL.I PS,jR. ' Temporary Chairman ` / k 1 II MILDRED V.HIGHAM / /J/, ' i City Recorder / �r "l / /t�r/4.4.LL.4 J:tyy/1 fit BILL one 13,1 Notary Yl lic BPuhllsNNO.June 23,1979 (0.9) My Commission Expires June 1, 1981 a;lv.