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.
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.
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.