§ 8181-5.8. Securities.

Except as otherwise specified in this Chapter, the decision-making authority may impose a penal and/or performance security on any discretionary entitlement as a condition of such entitlement. The security(s) shall be filed in a form acceptable to the County Counsel and certified by the County Clerk.

(a)

The required amount of the security(s) may be increased periodically by the Planning Director in order to compensate for inflation (based on the applicable regional Consumer Price Index) or other factors, so that the same relative value of the security is maintained over the life of the permit, and to assure that performance securities continue to reflect the actual anticipated costs for completing a required task. No security shall be released until after all of the applicable conditions of the permit have been met.

(b)

In the event of any failure by the permittee to perform or comply with any term or condition of a discretionary entitlement, the decision-making authority may, after notice to the permittee and after a public hearing, determine by resolution the amount of the penalty, and declare all or part of the security forfeited. The sureties and principal will be jointly and severally obligated to pay forthwith the full amount of the forfeiture to the County. The forfeiture of any security shall not insulate the permittee from liability in excess of the sum of the security for damages or injury, nor from expense or liability suffered by the County from any breach by the permittee of any term or condition of the permit or of any applicable ordinance or of the security.

(c)

The permittee shall maintain the minimum specified amount of a penal security throughout the life of the entitlement. Within thirty (30) days of any forfeiture of a penal security, the permittee shall restore the security to the required level.

(Ord. No. 4451, § 9, 12-11-2012)

Editor's note

See editor's note at § 8181-5.3.