§ 58-37. Financial assurance.

(a)

Except for single-family residential culvert installation and single-family residential driveway connections, prior to the commencement of any construction under a permit issued pursuant to this division, the applicant shall submit to the county financial assurance in an amount of 125 percent of the estimated cost of the construction as certified by an engineer licensed to practice in the State of Florida. This assurance shall either be in the form of a cash deposit, letter of credit issued by a state or national bank doing business in the State of Florida, or surety bond issued by an insurance or guaranty company with a rating of A or better by the A.M. Best rating guide or its equivalent. In all cases the form and issuer of the assurance shall be acceptable to the county.

(Ord. No. 2008-02, § 1(Exh. A), 5-22-08)