eLaws | eCases | California Laws | California Code of Regulations | Illinois Courts | Counties & Cities of California | Code of Federal Regulations | United States Code |
 Calexico
 Code of Ordinances
 Title 16. SUBDIVISIONS
 Chapter 16.32. IMPROVEMENTS

  § 16.32.120. Guarantee for construction of improvements—Form of surety.  

Latest version.

  • In the event the approval of the tentative map requires agreement for improvement of streets, utilities, or other facilities in connection with the subdivision, and the improvements have not been installed and accepted by the city prior to the presentation of the final map to the city council, the subdivider shall:

    A.

    Bond. File with the city clerk a bond in such amount as the city engineer estimates and determines to be necessary to complete all of the improvements required to be installed. The bond shall be executed by the subdivider as principal, and a corporation authorized to act as surety under the laws of the state of California as surety. The bond shall be payable to the city and be conditioned upon the faithful performance of any and all work required to be done within a specified reasonable time; or

    B.

    Cash or Negotiable Bond. Deposit with the city clerk cash or negotiable bonds of the kind approved by law for securing deposits of public money in such amount as the city engineer estimates and determines to be necessary to complete all of the improvements required to be installed. Whenever the subdivider elects to deposit cash or approved negotiable bonds, the city shall be authorized in the event of any default on the part of the subdivider in the performance of any work or improvement for which the cash or negotiable bonds are filed to cause the work to be done and to pay all costs therefor from such deposit; or

    C.

    Instrument of Credit. Deposit with the city clerk, and subject to the approval of the finance director/city treasurer, an instrument or instruments of credit from one or more financial institutions, subject to regulation by the state or federal government, pledging that funds in such amount as the city engineer estimates and determines to be necessary to complete all of the improvements required to be installed are on deposit and guaranteed for payment; further agreeing that the funds designated by the instrument shall become trust funds for the purposes set forth in the instrument of credit. Whenever the subdivider elects to deposit an instrument or instruments of credit, the city shall be authorized in the event of any default on the part of the subdivider in the performance of any work or improvement for which the instrument or instruments of credit are filed to cause the work to be done and to pay all costs therefor from such funds which are on deposit pursuant to the aforementioned instrument or instruments of credit. "Instrument or instruments of credit" is defined to include the establishment of a construction loan disbursement account which requires the approval and the signature of the city by an appropriate city official as a condition precedent to any disbursement of funds contained in such construction loan disbursement account.

    (Ord. 653 § 1 (part), 1970: Ord. 575 § 2 (part), 1964: prior code § 8449)

(Ord. No. 1145, § 1(KK), 10-2-2012)