A corporate surety bond, letter of credit, certificate of deposit or similar financial
guarantee approved by the city attorney, conditioned upon carrying out all and every
part of an approved erosion and sedimentation control plan and upon satisfaction of
the guarantee required by section 5-4-13 of this chapter for at least the sum estimated to be the full costs of carrying out
the plan and a reasonable allowance for estimated administrative costs and inflation
which shall not exceed 25 percent of the estimated cost of the conservation action,
or a cash escrow, upon the same conditions and in the same amount, shall be furnished
the city whenever such costs exceed $500. (Ord. No. 4489, 6/16/07, Sec. 1)
