§ 28-11. DEPOSITS; BONDS.

Before commencing any improvement in a division of land, the subdivider shall file with the City both a performance bond and a labor and material bond, issued by one or more authorized corporate sureties, in such amounts as shall be determined by the City Engineer for all sewers and other improvements under his jurisdiction to be installed or constructed. Each bond amount shall not be less than 50% of the involved construction costs.

Before commencing any improvement in a division of land, the subdivider shall deposit with the City the sum required by the City Engineer for all sewers and other improvements under his jurisdiction to be installed or constructed. The subdivider shall also deposit an additional sum estimated by the City Engineer to be the actual costs of the inspections of all improvements under his jurisdiction.

In lieu of making the special deposit required for the costs of inspections of improvements by the City Engineer, the subdivider may make and maintain with the City a general deposit in an amount not less than $1,000, determined by the officer with whom the deposit is made to be sufficient to protect the City's interests. The general deposit shall be held and used for the same purposes as the special deposit for the costs of the inspections of improvements by the City Engineer.

If any deposit made pursuant to the provisions of either subsections 28-11.1 or 28-11.2 is less than sufficient to pay all of the costs of inspection, the subdivider, upon demand of the City, shall pay to the City an amount equal to the deficiency. If the subdivider fails or refuses to pay such deficiency upon demand, the City may recover the same by action in any court of competent jurisdiction. Until such deficiency is paid in full, the improvement shall be considered not completed.

The City shall refund unused deposits as determined by the City Engineer. If the actual cost of inspections is less than the amount deposited, the City shall refund to the subdivider any amount still remaining in the manner provided by law for the repayment of trust moneys.

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City of Compton, CA § 28-11.6

COMPTON

§ 28-11.12

All faithful performance bonds referred to in this Chapter shall be furnished by a surety company authorized to write the same in the State and shall be subject to the approval and acceptance of the Council.

The agreement referred to in subsection 28-6.19 shall be accompanied by a faithful performance bond guaranteeing the faithful performance of all work, the inspection of which is the duty of the City Engineer, in a penal sum which, in the opinion of the City Engineer, equals the cost thereof.

The agreement referred to in paragraph e of subsection 28-8.24 shall be accompanied by a deposit in cash in a penal sum which, in the opinion of the City Engineer, equals the cost of setting such monuments, guaranteeing the faithful performance of all such work of setting monuments and furnishing notes and in every respect complying with such agreement.

If the subdivider shows to the satisfaction of the City Engineer that he has entered into a contract with a water utility to construct water mains as required by this Chapter, which contract makes the City a part thereto and provides that such contract may not be modified or rescinded without the consent of the City except as required by the Public Utilities Commission of the State, and has deposited with such water utility security for the payment of such water utility, which security the City Engineer finds adequate, the subdivider need not accompany his agreement to install water mains with a faithful performance bond.

When any portion of an improvement has actually been fully completed, the officer whose duty it is to inspect such improvement may in his discretion authorize from time to time a reduction in the bonds, or a partial withdrawal of funds, or a partial reassignment and withdrawal of savings and loan certificates or shares, which bonds, funds, certificates, certificates of credit, or shares were deposited in lieu of the faithful performance bonds required by this Chapter, equal to the estimated cost of such completed portion.

The provisions of this subsection do not authorize a reduction or withdrawal for partial completion of any or all of such improvements.

Upon failure of a subdivider to complete any improvement within the time specified in an agreement, the Council may, upon notice in writing of not less than 10 days served upon the person, firm, or corporation signing such contract, or upon notice in writing of not less than 20 days served by registered mail addressed to the last known address of the person, firm, or corporation signing such contract, determine that such improvement work, or any part thereof, is not completed and may cause to be forfeited to the City such portion of such sum of money or bonds given for the faithful performance of such work or may cash any savings and loan certificates as shares deposited and assigned to assure the faithful performance of such work in such amount as may be necessary to complete such improvement work.

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City of Compton, CA § 28-11.12

LAND SUBDIVISION

§ 28-12.2

Prior to filing of the final map, the subdivider shall file with the County Clerk a certification from the official computing redemptions in the County and in the City showing that, according to the records of his office, there are no liens against the division of land or any part thereof for unpaid State, County, municipal, or local taxes or special assessments collected as taxes, except taxes or special assessments not yet payable.

As to taxes or special assessments collected as taxes not yet payable, the subdivider shall file with the County Clerk a certificate by each proper officer, giving his estimate of the amount of taxes and assessments which are a lien but which are not yet payable. Whenever any part of the division of land is subject to a lien for taxes or special assessments collected as taxes which are not yet payable, the final map shall not be recorded until the owner or subdivider executes and files with the Board of Supervisors of the County a good and sufficient bond to be approved by the Board of Supervisors and by its terms made to inure to the benefit of the County upon the payment of all State, County, municipal, and local taxes and all special assessments collected as taxes, which, at the time the final map is recorded, are a lien against the property but which are not yet payable. In lieu of a bond, a deposit may be made of money or negotiable bonds in the amount, and of the kind approved, for securing deposits of public money, with the approval of the Board of Supervisors of the County.

In lieu of any faithful performance bond required by the provisions of this Chapter, the subdivider may deposit with the Council a sum of money, or negotiable bonds, or certificates of credit, or savings and loan certificates or shares equal to the required amount of such bond as security for the faithful performance thereof. If the subdivider deposits certificates of credit or savings and loan certificates or shares, he shall also assign such certificates and shares to the City.