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2011 SESSION

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SB 997 Street construction; no bond, escrow, etc., may be released until streets are accepted by agency.

Introduced by: Richard H. Stuart | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED SENATE:

Street construction.  Allows localities to retain full performance guarantees until streets in a new development are accepted by the state agency, local government department or agency, or other public authority that is responsible for maintaining and operating such public facility.  

SUMMARY AS INTRODUCED:

Street construction.  Allows localities to withhold occupancy permits and retain full performance guarantees until streets in a new development are accepted by the state agency, local government department or agency, or other public authority that is responsible for maintaining and operating such public facility. The bill further permits localities to withhold acceptance of securities or plat approvals if the developer or any partners are in default of street completions in another development in the locality.