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afFce orthe Disfric� web site at http:/lricecreek.orglperrn[i/sure#yschedule. An appficant may submit a performance bond or an irr�vocable letier of credit to the District to secure performance of permit conditior�s for activities for whicf� the required surety amaunt as determined ab��e is in excess of $5,000. The performance bond or iefter of credit must be submitied before the �ermit is issued, (c} Form and Contenfs of Performance Bond or �etter of Credit: (1) The performance bond or irra�ocable letter of credit must be in a form acceptable to fhe District and from a surety licensed to do business in Minnesofa. {2) The perfarmance bond or irrevocable letter of credit must be in favor of the District artd conditioned upon the pe�formance of the party obtair�ing the per€ormanc� bond or letker of credit of the activrties auihorized in the �ermit, and compfiance wiih alf applicable laws, including the Districfs rules, the terrr�s and conditions of the permit and payment when due of any fees or other charges required by law, incfuding the pistrict's ruies. The perFormance bond or irrevocable lef#er of credit musi provide that if the perFormance �ond conditions are not met, the District may make a claim against the performance bo�d or letter of credit. {d) Release of Performance 5ur�iy. Upon written notifcatfon firom permittee of cnmpletion of the permitted project, the Disirict wili inspecf #he project to determine if it is constructed in accardance wiih ihe terms of tf�e permit and District rufes. lf the praject is compieted in accordance with tY�e terms of the permit and �istrict rules and the pariy providi�g the performance surety does not have an outstand�ng ba(ance of money owed to the District for the projeci, including but not limiteti to unpaid permit fees, the Districf will release the performance bond or letter of creciit, or return t�e cash surety if applicabfe. �inai inspection compli�nce includ�s, but is not Eimited fo, cnnfirmation that all erosion and sedimenf control BMPs and stormwafer management features have b�en constructed or installed as designed and are fur�ctioning proper�y, and cornpletion of all required monitoring of wefland mi#igation ar�as Tl�e Qistricf may return a portion of fhe surety if it fir�ds that a parkion of t}�e sureYy is no longer warranted ta assure compliance with Disirict rules. RULE C S7�RNfWAi'ER MANAGEMEN�' PLANS 1. POLICY. It is fhe policy of f�e Board of Managers to manage stormwafer and snowmelt r�noff on a focal, regional ar subwatershed basis and promate natural infiltration of runoff tf�roughout the District to: (a) Maxim�ze infltra#ion on individual sites fhrough Setter Site besign praciices ar�d ad�anced stormwater management to control runoff �olume increases. (b) Provide effective water quality treatment befare discharge to surface waterbodies and weflands, while considering fhe historic �se of District water features. (c} Ensure fhat fulure peak rafes of runoff are fess than or equal to existing rates.