HomeMy WebLinkAboutOrdinance 1454ORDINANCE NO. 1454
AN ORDINANCE AMENDING CENTRAL POINT MUNICIPAL
CODE SECTION 16.28.080 SUBDIVISION BONDS
AND DECLARING AN EMERGENCY
WHEREAS, the City Council determines that it is
necessary and appropriate to revise bonding requirements for
Subdivision Improvements, now,. therefore,.
THE PEOPLE OF THE CITY OF CENTRAL POINT, OREGON,
do ordain as follows
Section 1. Central Point Municipal Code Section
16.28.080 is hereby amended to read as follows:
16.28.080 Bond.
A. The subdivider shall file with the agreement,
to assure his full and faithful performance thereof, one of
the followings
1. A surety bond executed by a surety company
authorized to transact business in the State, in the amount of
the estimated cost of the improvements required;
2. Cash in the estimated amount of the improve-
ments required;
3. An Open Letter of Credit executed in a form
satisfactory to the City Council in an amount of the estimated
cost of the improvements required.
B. Such assurance of full and faithful performance
shall be for a sum approved by the Planning Commission as
sufficient to cover the cost of the improvements and repairs,
including related engineering and incidental expenses, admini-
strative expenses, inflationary costs, and to cover the cost
of City inspection.
C. In the event the subdivider fails t~ carry out
provisions of the agreement and the City has unreimbursed costs
or expenses resulting from such failure, the City shall call
on the bond or cash deposit for reimbursement. In such case,
Page l - Ordinance No. 1454
i_f the amount of the bond or cash deposit exceeds cost and
expense incurred by th:e_City, it shall release theremander
and, if the amount of the bond or cash deposit is less than
the cost and expense incurred by the City, the subdivider
shall be liable to the City for the difference.
D. The approval of a plat by the City Council shall
not constitute an acceptance or an offer to accept any street,
alley, way or easement shown thereon, as any part of the public
in behalf of the public. Ln lieu of a surety bond or cash
deposit, the. City Counil may accept the written agreement of
the subdivider to complete the requirement improveme3~ts to City
specifications on the express written condition therein con-
tained that the City shall not accept any of the streets,
alleys or other ways as public streets, alleys or ways anal
shall not undertake in any way the maintenance thereof, nor
shall any water or sewer laid therein be connected to the
City's sewer or water system, unless the improvements are
completed to City specifications within the time prescribed
therein or with any extensions granted..
E. This ordinance being necessary for the immediate
preservation. of the public peace, health and safety of the City
of Central Point, Oregon, based upon a necessity to complete
the improvements of a signed subdivision plat, second reading
is waived pursuant to Municipal Code 2.04.020, and an emergency
is hereby declared to exist.
Passed by the Council and signed by me in authenti-
cation of its passage this 28th day of January ,
1982.
.~
i
Mayor
ATTEST:
,,,.-~~
C~.
City corder
Approved by me this ~~ ~ da
Y
1982.
of ~ ,
U
~,~~-.
ayor
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