§ 4.11.2 — BOND REQUIRED

4.11.2. BOND REQUIRED

A cash or assurance Assurance A legally binding and enforceable instrument ensuring the construction of all required assurable infrastructure by a subdivider. Assurances may be in the form of third party land trusts, or monetary sureties such as performance bonds, escrow funds, letters of credit, or such other security as are acceptable to the City. bond in the amount of $1,000 for a residential use and $5,000 for a nonresidential use is required, unless stipulated otherwise in the qualification standards in Section 4.11.1, Qualification for Permit, to guarantee termination of the temporary use. The cash or assurance Assurance A legally binding and enforceable instrument ensuring the construction of all required assurable infrastructure by a subdivider. Assurances may be in the form of third party land trusts, or monetary sureties such as performance bonds, escrow funds, letters of credit, or such other security as are acceptable to the City. bond shall be provided to the City City Same as City of Tucson. before any permit for the use is issued.