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2002 SESSION

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HB 1190 Partial release of performance bonds by localities.

Introduced by: Robert D. Hull (by request) | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

Release of performance guarantees. Requires that should a governing body, an administrative agency, the Virginia Department of Transportation, or other political subdivision choose to inspect any proposed public facility constructed by a subdivider or developer that is the subject of any performance guarantee required by the governing body or the Virginia Department of Transportation, the inspection shall be based solely upon conformance with the terms and conditions of the performance agreement.

SUMMARY AS PASSED HOUSE:

Release of performance guarantees. Requires that should a governing body, an administrative agency, the Virginia Department of Transportation, or other political subdivision choose to inspect any proposed public facility constructed by a subdivider or developer that is the subject of any performance guarantee required by the governing body or the Virginia Department of Transportation, the inspection shall be based solely upon conformance with the terms and conditions of the performance agreement.

SUMMARY AS INTRODUCED:

Release of performance guarantees. Requires that should a governing body, an administrative agency or the Virginia Department of Transportation choose to inspect any proposed public facility constructed by a subdivider or developer that is the subject of any performance guarantee required by the governing body or the Virginia Department of Transportation, the inspection shall take place and be completed within 30 days of receipt of the written notice by the subdivider or developer, shall be based solely upon conformance with published technical standards and regulations adopted by the Commonwealth or the governing body, and shall not include the involvement of any third parties.