A.
Guarantee of completion. A completion guarantee in
the form of a bond, cash deposit, certified check or other negotiable
securities acceptable to the municipality, shall be filed. The guarantee
shall cover all streets, sanitary sewers, stormwater management facilities,
water systems, fire hydrants, sidewalks and other required improvements;
it shall be in the amount and form prescribed by the Pennsylvania
Municipalities Planning Code (Section 509).[1]
[1]
Editor's Note: See 53 P.S. § 10509.
C.
Default of completion guarantee. If improvements are
not installed in accordance with the approved final plan, the governing
body may enforce any corporate bond or other security by appropriate
legal and equitable remedies. If proceeds of such bond or other security
are insufficient to pay the cost of installing or making repairs or
corrections to all the improvements covered by said security, the
governing body may at its option install part of such improvements
in all or part of the development and may institute appropriate legal
or equitable action to recover the moneys necessary to complete the
remainder of the improvements. All proceeds, whether resulting from
the security or from any legal or equitable action brought against
the developer, or both, shall be used solely for the installation
of the improvements covered by such security and not for any other
municipal purpose.
A.
When streets, sanitary sewers, stormwater management
facilities, water lines or other required improvements in the development
have been completed in accordance with the final approved plan, such
improvements shall be deemed private until such time as they have
been offered for dedication to the municipality and accepted by separate
ordinance or resolution or until they have been condemned for use
as a public facility.
B.
Prior to acceptance of any improvements or facilities,
the Municipal Engineer shall inspect them to ensure that they are
constructed in accordance with the approved plan and are functioning
properly. In the case of any stormwater control facility, it must
be free of sediment and debris.
C.
The owner shall submit as-built plans for all facilities
proposed for dedication.
D.
Prior to acceptance of any improvements or facilities,
the applicant shall provide a financial security to secure the structural
integrity and functioning of the improvements. The security shall:
