A. 
A completion guarantee or financial security in the form of a bond, cash deposit, cashier's check or other negotiable securities acceptable to the Municipality shall provide for, and secure to the Municipality, the completion of any improvements which may be required on or before the date fixed in the formal action of approval or accompanying agreement for completion of the improvements. The guarantee or security shall cover any and all stormwater management facilities, BMPs, erosion and sedimentation controls and other required improvements (collectively, "improvements") and shall be equal to 110% of the cost of completion estimated as of 90 days following the date scheduled for completion by the developer. Annually the Municipality may adjust the amount of financial security by comparing the actual cost of the improvements which have been completed and the estimated cost for the completion of the remaining improvements as of the expiration of the 90th day after either the original date scheduled for completion or a rescheduled date of completion. Subsequent to said adjustment, the Municipality may require the developer to post additional security in order to assure that the financial security equals said 110%. Any additional security shall be posted by the developer in accordance with this subsection.
B. 
The amount of the guarantee or financial security required shall be determined utilizing the provisions of Section 509(g) of the Municipalities Planning Code.[1]
[1]
Editor's Note: See 53 P.S. § 10509(g).
The completion guarantee or financial security shall be returned or released upon written certification by the Municipality Engineer or a designated agent that improvements and facilities have been installed and completed in accordance with the approved plan and specifications. The procedures for requesting and obtaining a release of the completion guarantee shall be in a manner prescribed by Section 510 of the Municipalities Planning Code.[1]
[1]
Editor's Note: See 53 P.S. § 10510.
If improvements are not installed in accordance with the approved final plans, the Council of the Municipality of Murrysville may enforce any corporate bond or any 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 Municipality 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 monies 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 Municipality purpose.
A. 
When streets, sanitary sewers, stormwater management facilities, BMPs, erosion and sedimentation controls or other required improvements in the development have been completed in accordance with the final plans, such improvements shall be deemed private until such time as they have been offered for dedication to the Municipality of Murrysville and accepted by separate ordinance or resolution or until they have been condemned for use as a public facility. The Municipality shall be under no obligation to accept such facilities or controls unless and until the Municipality so determines that it is in the best interest of the Municipality to do so.
B. 
Prior to acceptance of any improvements or facilities, the Municipal Engineer shall inspect the same to ensure that the same are constructed in accordance with the approved plans and are functioning properly.
C. 
The owner shall submit as-built plans for all facilities proposed for dedication.
Prior to acceptance of any improvements or facilities, the applicant shall provide financial security to secure the structural integrity and functioning of the improvements. The security shall:
A. 
Be in the form of a bond, cash, cashier's check or other negotiable securities acceptable to the Municipality.
B. 
Be for a term of 18 months.
C. 
Be in an amount equal to 15% of the actual cost of the improvements and facilities so dedicated.
The Municipality of Murrysville Council may adopt by resolution, from time to time, a reasonable schedule of fees to cover the cost of presubmission and preconstruction meetings, plan reviews, inspections and other activities necessary to administer, monitor and enforce the provisions of this chapter. All fees shall be set in accordance with the applicable provisions of the Municipalities Planning Code, 53 P.S. § 10101 et seq., and any dispute over the fee amount shall be resolved in the manner prescribed by the Municipalities Planning Code.