§ 25-9-65. COST PARTICIPATION REQUIREMENTS.

(A)

An entity constructing a water or wastewater main or a facility that is eligible for cost participation may not receive a cost participation payment for the main or facility unless the entity complies with each requirement or regulation of the City, including but not limited to requirements relating to:

(1)

the public advertising of the main or facility;

(2)

the bidding on the main or facility;

(3)

a performance or payment bond for the main or facility;

(4)

posting of fiscal security as set forth in the developer agreement required by Section 25-9-67 (Agreement);

(5)

completion and acceptance; and

(6)

a warranty on the main or facility.

(B)

The entity constructing the main or facility is not entitled to receive a cost participation payment until the entity submits documentation showing the entity's compliance with each requirement described by Subsection (A).

Source: Section 13-3-15(e); Ord. 990225-70; Ord. 031211-11; Ord. 20090820-061; Ord. 20130321-065.