§ 18.24.020. Forms and amount of financial security.

A.

The developer shall provide with the agreement set forth in Section 18.24.010, to assure his full and faithful performance thereof, one or more of the following:

1.

A surety bond executed by a surety company authorized to transact business in the state of Washington in a form approved by the prosecuting attorney;

2.

Cash, deposited with the Thurston County treasurer;

3.

A letter of credit approved by the prosecuting attorney from a financial institution stating that the money is held for the purpose of development of the stated project.

B.

The financial security provided for by this section shall be for a sum estimated by the director of public works as sufficient to cover the costs of the developers failure to comply with the agreements provided for by Section 18.24.010, including all related engineering and incidental expenses, final survey monumentation and certified original reproducible mylar as constructed improvement plans.

(Ord. 11398 § 10 (part), 1997: Ord. 7387 § 2 (part), 1982: Ord. 6629 § 38, 1980: Ord. 4748 § 1 Ch. 6(2), 1974)

(Ord. No. 14773, § 10(Att. I), 7-24-2012)