§ 20-73.1. Performance security provided by assessment district.

Latest version.

When the required subdivision improvements are financed and installed pursuant to special assessment proceedings, upon the furnishing by the contractor of the faithful performance and labor and material bonds required by the special assessment act being used, the improvement security of the subdivider may be reduced by an amount corresponding to the amount of such bonds so furnished by the contractor, upon the approval of the director of public works.

(Ord. No. 3188, § 1(Exh. A), 3-14.95)

                    
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