(a)
Applicability.
An applicant is required to furnish the requirements of this section when proposing to either:
(b)
Financial agreement.
If required by subsection (a), the applicant shall furnish a good and sufficient surety bond, irrevocable letter of credit, or escrow agreement (as approved by the city attorney) to provide funds, to indemnify the city against any repairs which may become necessary for any part of the construction work performed in connection with the subdivision, arising from defective workmanship or materials used therein, for a full period of one year from the date of final acceptance of the entire project.
(c)
Public acceptance.
Final acceptance will be withheld until said sufficient funds are furnished to the public works director for approval. The surety funds shall have attached thereto a copy of the contract for such improvements and such other information and data necessary to determine the validity and enforceability of such bond.
(2000 Code, sec. 23-5; Ordinance adopting Code)
(a)
Generally.
The city shall have a limited right of approval concerning the incorporation documents for a property owners’ association that is proposed to be enacted within its city limits. This right of approval is limited only to the items specifically listed in subsection (c) below which directly affect the city.
(b)
No dispute intervention.
The city will not seek to intervene in purely private disputes pertaining to a private covenant, condition, or restriction.
(c)
Review of agreement.
The developer shall submit to the city attorney all proposed property owners’ association incorporation documents to ensure that the following provisions are included in a format that is acceptable to the city:
(1)
All items that are required by either this chapter, chapter 14, Zoning, or any additional conditions of approval, which may include specific rights of enforcement being granted to the city.
(2)
Membership in the property owners’ association shall be mandatory for all owners of property in the subdivision or condominium.
(3)
Dues are payable to the property owners’ association at regular intervals.
(4)
The property owners’ association has lien rights with respect to unpaid dues.
(5)
The property owners’ association has a perpetual existence.
(6)
The property owners’ association has all responsibilities for the maintenance of common open space, green space, and other facilities provided for benefit and enjoyment of members.
(7)
The property owners’ association has the capacity to sue and be sued.
(8)
Plats and site plans shall be approved subject to the submission of a legal instrument setting forth a plan or manner of permanent care and maintenance of open spaces, recreational areas and other communally owned facilities.
(9)
A homeowners’ association (HOA) or other similar management entity shall be organized as a nonprofit corporation with automatic membership in the HOA when property is purchased. This shall be specified in the covenants which run with the land and which bind all subsequent owners. Covenants for maintenance assessments shall also run with the land. Included in the maintenance covenants shall be procedures for changing them at stated intervals. Deeds shall also reference the rights and responsibilities of property owners to the HOA. The HOA shall also be responsible for liability insurance, local taxes, and the maintenance of all commonly held facilities through the use of a pro-rata formula for all property owners.
(2000 Code, sec. 23-5; Ordinance adopting Code)