§ 33-3. Performance bond.

(a) Required.

For any development that requires an erosion and sediment control plan under this Division III, a grading or building permit may not be issued until the applicant posts a surety or cash bond or other means of security acceptable to the Department.

(b) Amount.

(1) The amount of the security must be equal to at least the estimated cost of the installation, maintenance, and removal of the erosion and sediment controls shown on the approved plan.

(2) This estimate must be prepared by the applicant and submitted with the plan.

(c) Tenor.

The security required by this section must provide for forfeiture on failure to:

(1) complete all work specified in the approved erosion and sediment control plan;

(2) comply with any provision of this Division III or of any other applicable law, rule, or regulation; or

(3) comply with any applicable time limitations.

(d) Release.

The security may not be released until the Department conducts a final inspection of the completed work.