Borough of Moosic, PA Article X Bonds, Insurance and Other Funds

§ 243-76 Construction funds.

Prior to starting construction upon public roadways or Borough property or the property of one other than the owner of the property commencing new construction, all necessary funds required to complete construction must be guaranteed in a form acceptable to the Borough. Acceptable methods of assurance include, but are not limited to, surety bond (100%), irrevocable letter of credit (100%), cash escrow (25%), etc.

§ 243-77 Maintenance bond.

Prior to starting construction of a development or subdivision, the developer shall provide a bond or guarantee in a form acceptable to the Borough, guaranteeing the new facilities to be free from defects for a period of two years after the facilities are accepted by the Borough.

§ 243-78 Insurance and indemnification.

Prior to starting construction, the Borough shall be furnished by the developer and/or contractor the following:

A. An indemnification agreement in a form approved by the Borough or it's employees or agents harmless from any and all claims arising from said construction;

B. Evidence of general liability insurance in an amount of not less than $500,000 per claim;[1]

[1] Editor's Note: Amended at time of adoption of Code (see Ch. 1, General Provisions, Art. I).

C. Evidence of workman's compensation insurance coverage as required by law.