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<br /> <br /> i <br /> <br /> BUILDING3 § &70 <br /> <br /> resolution, a performance bond or letter of credit shall be <br /> required as a condition precedent to the issuance of the <br /> building permit. The amount of such bond or letter of credit <br /> shall be determined by the council; provided, however, that <br /> in no event shall the council require a bond or letter of <br /> credit lesa than one hundred twenty-five (25) per cent of the <br /> required improvement as estimated by the landacape <br /> inspector or other inspector under whose jurisdiction the <br /> improvement falls, or their reapective deputies. Said bond or <br /> letter of credit shall be approved by the city attorney as to <br /> sufficiency, form and eaecution. In requiring said bond or <br /> letter of credit, the council shall stipulate the time within <br /> which the performance being bonded or assured is to be <br /> carried out. <br /> (b) Where the subject of the performance bond or letter of <br /> credit has been the installation or placement of landscaping <br /> or screening, said bond or letter of credit shall not be <br /> released, converted or reduced, until the inspection and <br /> reporting requirements of section 6-116(b) hereof have been <br /> fulfilled, and the permittee has posted with the city (or has <br /> converted the esisting letter of credit) a guarantee or <br /> , maintenance bond or letter of credit, approved by the city <br /> attorney as to sufficiency, form and esecution, which <br /> guarantees to the city that said Iandscaping or acreening <br /> ~ shall be mainteined and be free from disease, defect and <br /> , death for a period of at least one (1) year from the date of <br /> the city's approval of said landscaping, the duration of said <br /> ~ bond or letter of credit to be as determined by the city <br /> i council. In no event shall the amount of said bond or letter <br /> , of credit be greater than one hundred (100) per cent of the <br /> actual cost of the landacaping or acreening improvement <br /> ~ (i.e., labor and materials incorporated therein) as determined <br /> ~ by the landscape inspector or other inspector under whose <br /> jurisdiction the improvement falls, or their respective <br /> deputies. (Ord. No. 191, § 9(i), 8-11-75; Ord. No. 211, § 1, <br /> 12-27-79) <br /> Sec. 6-70. Endorsement oi plane, speciiieations. <br /> When the appropriate inspector issues the permit, he shall <br /> endorae in writing or stamp on both sets of plans and <br /> I 3npp. Na 2 317 <br /> ~ _ <br />