§ 32-4-312. SECURITY.

(a)

In general. Any security required to be posted under this title shall be in a form approved by the Office of Law and the Office of Budget and Finance.

(b)

Amount of security.

(1)

Except as provided in paragraph (2) of this subsection, the county shall require the applicant to provide a performance security in an amount equal to 110% of the amount of the county approved cost estimate for the completion of the improvements.

(2)

The county shall require an applicant to provide a performance security for grading permits in an amount equal to $.05 per square foot of land area to be disturbed, not to exceed $30,000.

(1988 Code, § 26-248) (Bill No. 38-98, § 6, 6-20-1998; Bill No. 79-01, § 2, 7-1-2004)