§ 22-708. Guarantee of Completed Improvements.

Latest version.

When the Borough Council accepts dedication of required improvements following their completion, the Borough Council may require posting of financial security by the applicant to secure the structural integrity and functioning of these improvements in accordance with the design and specifications as depicted on the approved final plan.

1.
Said financial security shall be of the same type as otherwise required by § 22-702 herein.

2.
The amount of financial security shall be 15% of the actual cost of installation of the improvements.

3.
The term of the guaranty shall be 18 months from the date of acceptance of dedication.

Ord. 2016-2267, 10/11/2016

                    
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