40B-1.704. Bond

(1) The Board may require the applicant for a permit to furnish a bond or some other alternative form of security made payable to the District and its successors, with a reputable bonding company authorized to do business in this state as surety, conditioned upon full compliance with terms of the permit, including the proper construction, operation, and maintenance of the facility. The amount of the bond shall be determined by the Board.

(2) Applicants for environmental resource permits under Chapters 40B-4 and 40B-400, Florida Administrative Code (F.A.C.), shall furnish a bond or other form of surety for certification of completion of construction as required by paragraph 40B-4.1140(2)(c) and subsection 40B-400.091(2), F.A.C. The forms of surety acceptable to the District include but are not limited to, cash deposit, letter of credit, and performance bond. Bonds and other forms of surety shall be in the following amounts: project area less than one acre, $1,000; project area less than 10 acres, $2,000; project area less than 40 acres, $3,000; project area less than 100 acres, $4,000; project area less than 200 acres, $5,000; project area greater than or equal to 200 acres, $10,000. The District shall release the bond or other form of surety, without interest, upon final acceptance of certification of completion of construction and transfer of operation and maintenance to an entity approved by the District as required by subsection 40B-400.091(2), F.A.C.

(3) The Board may require liability insurance in such amount as the Board shall determine endorsed in favor of the District or a hold harmless agreement satisfactory to the Board.

(4) The Board may require that the bond or liability insurance be maintained as a condition of the continued validity of the permit.

Rulemaking Authority 373.044, 373.113 FS. Law Implemented 373.085, 373.103, 373.219, 373.413, 373.414, 373.416 FS. History–New 9-15-81, Amended 1-10-10, 11-2-21.