Security/performance bond.

§ 255-1060. Security/performance bond.

• A. A performance bond, letter of credit or other form of surety shall be posted in an amount to be determined by the Town Engineer to ensure proper operation of the facility and that the restoration requirements are adequately met. After evidence of nonconformance or nonperformance of the applicant, the Director of the Planning and Development Department or his or her designee shall recommend to the Zoning Board of Review that the bond be defaulted, and measures taken to accomplish necessary work in fulfillment of the intent of the regulations. Upon satisfactory completion of the restoration plan and compliance with the regulations in §§ 255-1030, 255-1040, and 255-1050 as certified by the Director of the Planning and Development Department or his or her designee, the Zoning Board of Review shall issue a written certification that the above requirements have been met. The performance bond, letter of credit or other surety shall be released to the landowner upon receipt of the written certification from the Town Council.

• B. If all requirements of these regulations have been met by the applicant, the Zoning Board of Review shall recommend release by the Town Council of all surety bonds and other funds held in warranty of completion of the project. The Town Council shall thereupon approve, reject, or modify the Zoning Board's recommendation.