Fla. Admin. Code Ann. R. 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.
Notes
Rulemaking Authority 373.044, 373.113 FS. Law Implemented 373.085, 373.103, 373.219, 373.413, 373.414, 373.416 FS.
New 9-15-81, Amended 1-10-10, 11-2-21.
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