Fulton Bonds, maintenance assurance and fees ordinance (§ 46-64)

(a) Performance bonds and other assurances for completion and operation of improvements. Upon approval of the stormwater management plan, but before the issuance of a building permit or subdivision plat approval, the city engineer shall require the applicant to post a performance bond, cash escrow, certified check, or other acceptable form of performance security in an amount sufficient to ensure the execution of the plan. After determination by the city engineer that all facilities are constructed in compliance with the approved plan, the performance bond or other securities shall be released.

(b) Maintenance agreement. A maintenance agreement approved by the city council ensuring perpetual maintenance of stormwater management improvements shall be executed by the city and the applicant.

(c) Fees. A fee per lot, as established by the city council from time to time, shall accompany the submittal of each stormwater management plan for review.