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O87-11ORDINANCE NO. 8?- H AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF BOYNTON BEACH, FLORIDA AMENDING APPENDIX C - SUBDIVISION AND PLATTING REGULATIONS, ARTICLE VIII, SECTION 7, SUBMISSION OF FINAL PLAT, SUBSECTION A.2, BY PROVIDING FOR ALTERNATIVE SURETY; PROVIDING A CONFLICTS CLAUSE; PROVIDING AUTHORITY TO CODIFY; PROVIDING A SEVERABILITY CLAUSE; PROVIDING AN EFFECTIVE DATE; AND FOR OTHER PURPOSES. NOW, THERF~, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF BOYNTON BEACH, FLORIDA THAT: Section 1: Appendix C - Subdivisions and Platting Regulations, Article VIII, Section 7, Submission of Final Plat, Subsection A.2 is amended by adding the words and figures in underlined type and by deleting the words and figures shown in struck-through type as follows: Section 7. Submission of final plat. A. Upon completion of the foregoing requirements, the final plat shall be submitted to the office of the city engineer and be accompanied by the following: 2. Surety bond. The developer shall furnish the city a surety or performance bond obtained from a company having a Best's rating of AAA, and authorized to do business in the State of Florida, guaranteeing that within the time required by this ordinance, all work required will be completed in full accordance with the plat and all conditions attached thereto, copies of which shall be attached to and constitute a part of the bonded agreement. Said bond shall be in an amount equal to ~e -hu~e~ -per-ee~-~88%~one hundred ten percent (110%) of the total cost of surveying and construction for the installation and completion of all required improvements including sidewalks. Sem~a~ua~yPeriodically, during the process of construction and upon request by the developer, the city engineer may recommend c~,ission, for its approval, reduction in the dollar amount of the bond on the basis of work completed; provided, however, sufficient funds shall remain to complete the required improvements. The city, after sixty (60) days' written notice to the developer, shall call on the bond to insure satisfactory completion of the required improvements in the event of default by the developer or failure of the developer to complete such improvements within the time required by this ordinance. If conditions warrant, the City Co.~ssion b~ Resolution may accept other surety it deems appropriate. Sa~-B~Bonds shall be in substantially th~ following form?-a~-~y-s~eh-a-~?-a~-~-~ehe~ ~me~-~-~ms~men~?-sha~-sa~s~y-~he-~e~emem~s o~-~h~s-see~onv± SeCtion 2: That all ordinances or parts of ordinances in conflict herewith be and the same are hereby repealed. SeCtion 3: Authority is hereby granted to codify said ordinance. Section 4: Should any section or provision of this ordinance or portion hereof, any paragraph, sentence, or word be declared by a court of competent jurisdiction to be invalid, such decision shall not affect the remainder of this ordinance. Section 5: This ordinance shall become effective immediately upon passage. FIRST READING this ~ day of ~ 1987. ~ SECOND, FINAL READING and PASSAGE this /~/~ , 1987. ATTEST: Cit~Clerk ~_~g/~/ (Corporate Seal) CITY OF BOYNTON BEACH, FLORIDA Vice M~or Commissioner C6 i~si6ner