§ 9.154.110. Reduction in bond or deposit on portion of work completed.

Latest version.

(a)

When any portion of an improvement has actually been fully completed, the City Engineer may, in the City Engineer's discretion, authorize from time to time a reduction in the bonds or instruments of credit, or a partial withdrawal of funds, which bonds, instruments of credit, or funds were deposited in lieu of a faithful performance bond required by this chapter, equal to the estimated cost of such completed portion.

(b)

This section does not authorize a reduction or withdrawal for partial completion of any or all of such improvement.

(Ord. No. 297, § 9.07.090.120, 3-20-2007)

                    
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