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<br />The surety amount will be calculated as follow: <br /> <br />(Acres of Development * $2,000) + (1.25 * Est. Construction Cost of Storm water Facilities) = Surety <br /> <br />An applicant may submit a performance bond or an irrevocable letter of credit to the District to secure <br />performance of permit conditions for activities for which the required surety amount as determined <br />above is in excess of $5,000. The performance bond or letter of credit must be submitted with the pennit <br />application. The first $5,000 of the surety must be a cash surety. For amounts over $5,000, a cash <br />surety, perfornlance bond or letter of credit is acceptable. <br /> <br />( c) Form and Contents of Performance Bond of Letter of Credit. <br /> <br />(I) The performance bond or irrevocable letter of credit must be in a form acceptable to the District <br />and from a surety licensed to do business in Minnesota. <br /> <br />(2) The performance bond or irrevocable letter of credit must be in favor of the District and <br />conditioned upon the performance of the party obtaining the performance bond or letter of credit of <br />the activities authorized in the permit, and compliance with all applicable laws, including the <br />District's rules, the terms and conditions of the permit and payment when due of any fees or other <br />charges required by law, including the District's rules. The performance bond or irrevocable letter of <br />credit must provide that if the performanc~ bond conditions are not met, the District may make a <br />claim against the performance bond or letter of credit. <br /> <br />(d) Release of Performance Surety. The District will inspect the project to determine if it is constructed in <br />accordance with the terms of the permit and District rules. lfthe project is completed in accordance with the <br />terms of the permit and District rules and the party providing the performance surety does not have an <br />outstanding balance of money owed to the District for the project, including but not limited to unpaid permit <br />fees, the District will release the performance bond or letter of credit, or return the cash surety if applicable. <br /> <br />11. Other Permits And Approvals. It is the permit applicant's responsibility to secure all permits and <br />approvals that are required by other governmental authorities, and provide the District proof that applicant has <br />submitted these permit applications. <br /> <br />Rule C: Storm-Water Management Plans <br />1. Policy. It is the policy of the Board of Managers to: <br />. Reduce runoff rates to levels that allow for stable conveyance of flow throughout the water resources of <br />the District. <br />. Require rate control practices on all development to preserve runoff rates at a level that will not cause <br />the degradation of water resources. <br />. Limit runoff volumes by utilizing site designs that limit impervious or incorporating volume control <br />practices such as infiltration. <br />. Minimize connectivity of impervious surfaces to the stormwater system. <br />. Require the use of effective nonpoint source pollution reduction BMPs in development projects. <br />. Protect and maintain downstream drainage systems to provide permanent and safe conveyance of <br />stormwater. Reduce the frequency and/or duration of potential downstream flooding. <br /> <br />CRWD Draft Rules - 45 Day Review Version <br /> <br />October 6, 2005 <br /> <br />Page 60fl4 <br />