The owner of the right-of-way of a proposed street or highway may request
the acceptance of the proposed street or highway by the Town Board prior to
the completion of construction of said street or highway, and the Town Board
may accept said street or highway, provided that at the time of such acceptance
by the Town Board there is deposited with the Town Board by the owner:
A.
A check, performance bond or other security as set forth in § 106 of the General Municipal Law, in an amount determined by the Town Board to be sufficient to defray the expense of completing the proposed street or highway in accordance with the provisions of this Part 1.
B.
A written guaranty by the owner that the construction
will be completed within the time allowed by the Town Board and that the owner
will comply with any and all conditions imposed by the Town Board.
C.
An insurance policy or policies, in a company and in
an amount satisfactory to the Town Board, insuring the Town and any special
districts involved against liability for personal injuries and property damage
arising out of the construction of the said street or highway.
A check deposited with the Town Board under the provisions of § 100-21 shall be a cashier's check payable to the Town of Bethlehem. Such check or other security shall be accompanied by such documents as may be required by the Town Attorney to empower the Town Board to utilize the full amount of the check or other security or such portion as may be necessary to complete the construction of the proposed street or highway in the event that the grantor fails to complete construction of the proposed street or highway within the time allotted for such construction by the Town Board.
A bond deposited with the Town Board under the provisions of § 100-21 shall be in a form satisfactory to the Town Attorney and shall be written by a bonding company acceptable to the Town Board.
Upon completion of a portion of the construction of a proposed street or highway accepted by the Town Board under the provisions of § 100-21 and upon application of the grantor, the Town Board may reduce the amount of the check or bond deposited with the Town Board, provided that the amount of the check or bond remaining on deposit with the Town Board shall be sufficient, in the determination of the Town Board, to complete the construction of the proposed street or highway.
Upon completion of a street or highway which has been accepted by the
Town Board prior to completion pursuant to the provisions of this article,
the Town Superintendent of Highways shall certify such completion to the Town
Board.
The Town Board shall have the right, in its discretion and upon good
cause shown, to extend the time originally granted for completion of a street
or highway pursuant to the provisions of this article.
