(1) Upon at least fifty percent (50%) of the units within a development being issued a certificate of use and occupancy:(1) The local government for the jurisdiction where the treatment works is or will be installed shall require the developer to obtain and file a reasonable performance bond for the first two (2) years that the treatment works is in operation, in an amount to be determined by such local government when the developer submits an application under § 68-221-1402(a). The amount of the bond required under this subdivision (1) must be one hundred percent (100%) of the total replacement cost; and(2) The local government for the jurisdiction where the treatment works is installed shall require the operator of the treatment works to obtain and file a reasonable performance bond for the third through tenth years that the treatment works is in operation. The amount of the bond required under this subdivision (2) must be fifty percent (50%) of the total replacement cost.
(1) The local government for the jurisdiction where the treatment works is or will be installed shall require the developer to obtain and file a reasonable performance bond for the first two (2) years that the treatment works is in operation, in an amount to be determined by such local government when the developer submits an application under § 68-221-1402(a). The amount of the bond required under this subdivision (1) must be one hundred percent (100%) of the total replacement cost; and
(2) The local government for the jurisdiction where the treatment works is installed shall require the operator of the treatment works to obtain and file a reasonable performance bond for the third through tenth years that the treatment works is in operation. The amount of the bond required under this subdivision (2) must be fifty percent (50%) of the total replacement cost.