HomeMy WebLinkAbout20500ORDINANCE NO 20 500
2011065052 Received: 11/2/2011 3:31:03 PM
Recorded: 11102/2011 03:37:10 PM Filed &
Recorded in Official Records of Larry Crane,
PULASKI COUNTY CIRCUITICOUNTY CLERK
Fees $20.00
2 A'
3 'AS! CAA ORDINANCE TO AMEND CHAPTER 31 OF THE LITTLE ROCK
4 CITY CODE TO ADD AN ADDITIONAL ALTERNATE FORM OF
5 ASSURANCE FOR COMPLETION OF SUBDIVISION
6 IMPROVEMENTS; AND FOR OTHER PURPOSES.
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8 WHEREAS, Little Rock, Ark., Rev. Code ( "LRC ") §31- 431(b) (1988) currently permits certain
9 methods of assuring the completion of improvements for subdivisions including a cashier's check,
10 certificate of deposit or an irrevocable letter of credit; and
11 WHEREAS, the City Board of Directors wishes to add an additional option for individuals who
12 subdivide property to assure that the improvements will be installed within the specified time and in
13 accordance with the approved plans and specifications; and
14 WHEREAS, in order to provide for the additional option, the applicable section of the Little Rock
15 City Code must be amended;
16 NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF DIRECTORS OF THE CITY
17 OF LITTLE ROCK, ARKANSAS:
18 Section 1. Section 31- 431(b)(2) of Article IV, Division 2 of Chapter 31 of the City of Little Rock
19 Code of Ordinances is hereby amended by adding a subsection d as follows:
20 d. Performance or security bond. A performance bond or security bond, if
21 provided, must be posted in the amount of 100% of the total cost of the improvements, as
22 determined by the public works department, including the cost of a maintenance bond,
23 plus an additional 10% percent for contingencies. The performance bond or surety bond
24 must be issued by a company with an A.M. Best rating of A — VII or above and
25 approved to do business in the state of Arkansas.
26 Section 2. Severability. In the event any section, subsection, subdivision, paragraph,
27 subparagraph, item, sentence, clause, phrase, or word of this ordinance is declared or adjudged
28 to be invalid or unconstitutional, such declaration or adjudication shall not affect the remaining
29 provisions of this ordinance, as if such invalid or unconstitutional provision were not originally
30 a part of this ordinance.
31 Section 4. Repealer. All ordinances or resolutions of the City in conflict herewith are hereby
32 repealed to the extent of such conflict.
33 PASSED: November 1, 2011
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I ATTEST:
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4 san fn Clerk
5 APPROW AS TO LEGAL FORM:
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8 Thomas M. Carpenter, Ci ttorney
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APPROVED:
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Mark Stodola, Mayor