§ 8-29. Performance bond, cash escrow, or irrevocable letter of credit.

(a)

Applicants shall post a performance bond in favor of the county with an acceptable corporate surety, in an amount approved by the environmental engineer as sufficient to install the controls specified in the erosion and sediment control plan. The bond shall be conditioned on the faithful performance of the approved erosion and sediment control plan and shall indemnify and save harmless the county from any loss that results from the applicant's failure to comply with the requirements of this chapter. The form of the bond shall be approved by the county attorney.

(b)

In lieu of a performance bond, the applicant may submit to the environmental engineer a cash escrow or an irrevocable letter of credit which is approved as to form by the county attorney. The amount of the cash escrow or letter of credit shall be approved by the environmental engineer in the manner described in subsection (a).

(c)

The amount of the bond, cash escrow, or irrevocable letter of credit shall include an amount that is equal to ten percent of the installation cost to cover maintenance costs.

(d)

For non-exempt timbering, the amount of the bond, cash escrow, or irrevocable letter of credit shall be $2,500.00.

(e)

If the owner or permit holder does not faithfully perform the approved erosion and sediment control plan or any other measures deemed necessary by the environmental engineer, as provided for in Code of Virginia, § 62.1-44.15:51 et seq., 9VAC25-840-40, and the most recently approved edition of the state erosion and sediment control handbook, the environmental engineer shall revoke the land disturbance permit prior to using any funds that are posted to implement any portion of the erosion and sediment control plan or other measures deemed necessary by the environmental engineer. The person who posted the bond, letter of credit or cash escrow shall increase the bond, letter of credit or cash escrow back to the original amount approved by the environmental engineer before the environmental engineer reissues the land disturbance permit to the permit holder.

(f)

Any person who engages in land-disturbing activity on land that has received minor site plan approval pursuant to chapter 19 shall be exempt from the requirements of this section, except that he must obtain a land disturbance permit.

(g)

Within 60 days after all land-disturbing activity has been completed and the environmental engineer has determined that all land has been stabilized, any unexpended or unobligated funds that were posted or deposited with the environmental engineer pursuant to this section shall be released or refunded. For the purposes of this section, land-disturbing activity shall be considered to be complete when a certificate of occupancy has been issued or, in the case of a subdivision, when the board of supervisors has adopted a resolution requesting the state to accept the subdivision roads into the state highway system.

(Ord. of 4-9-14(3), § 1)

(Ord. of 4-9-14(3), § 1)