Toms River City Zoning Code
§ 348-7.2
Approval of performance guaranties.
A.
Duties of Township Engineer, Township Attorney and Township Clerk. No performance guaranties shall be presented for approval of the Township Committee until the municipal officials listed below have performed the following and make certification of their performance, in writing, to the Township Committee.
(1)
Township Engineer. The Township Engineer shall:
(a)
Where applicable, examine the plat map of a subdivision to make certain that it complies with all state laws and this chapter relative to the preparation and filing of maps or plans for the subdivision of land.
(b)
Ascertain that the plat of a site plan or subdivision has been approved by the Ocean County and Toms River Township Planning Boards.
(c)
Determine those acts or things the applicant is to do to protect Toms River Township, such as to provide proper drainage, streets, curbs, signs, monuments or any other item or thing and the cost of each, as well as the maximum time he recommends granting the applicant to provide each item or all items.
(d)
Determine if the landowner is an individual, corporation or partnership and, if an individual, his full name and address; if a corporation, its correct name, date and state of incorporation, the name of its president and secretary and location of its principal office in this state; if a partnership, the names and addresses of all partners.
(e)
Give the applicant a form of the surety company bond required by the Township of Toms River and all figures, dates and details required by Subsection A(1)(c) above so that same may be included in the bond to be furnished to the Township and, also, advise the applicant of the amount required to pay the Township as a proper inspection, testing and administration fee.
(g)
The Township Engineer's certificate shall also state and give the nature of cash, or its equivalent, deposited as a portion or all of the performance guaranty (i.e., cash, certified check, cash escrow deposit or other security).
(2)
Township Attorney. Upon the receipt from the Township Engineer of the surety bond and Engineer's certificate, the Township Attorney shall promptly examine said bond and determine whether or not it is correct in form, content and execution. If the bond is not correct, the Township Attorney shall notify the applicant of its shortcomings. When the bond is or has been correct, the Township Attorney shall make a written certificate to that effect to the Township Committee. Thereupon said Attorney shall deliver the bond and Engineer's and Attorney's certificates to the Township Clerk.
(3)
Township Clerk. Upon the receipt from the Township Attorney of the bond and certificates of the Engineer and Attorney, the Township Clerk shall:
(a)
Collect from the applicant the proper fee or fees, if any, payable to the Township in accordance with the Engineer's certificate.
(b)
Place the matter of approval of bond(s) on the agenda of the next regular meeting of the Township Committee for its consideration.
(c)
Submit the bond, certificate and fees to the Township Committee at the next regular meeting of said Committee.
B.
Certificates; form, dating. Each of said certificates shall be dated and written in letter form upon the stationery of the maker or of the Township and shall be signed by him or his authorized agent or representative.
C.
Requirements for performance bonds and letters of credit.
[Amended 5-13-1992 by Ord. No. 2911-92]
(1)
Performance bond requirements. There must be attached to said bond an authority of the surety company empowering the person or persons who executed said bond for the surety company to do so. If the bonding company is not a New Jersey corporation, there should also be attached to the bond proof of its authority to do business in New Jersey and a copy of its last financial statement, made not more than one year before, showing its financial conditions. If the principal on the bond is a corporation, there must be attached to the bond a certified copy of a resolution adopted by its Board of Directors authorizing the execution and delivery of said bond. Said bond must also bear the corporate seal of the surety company and the seal, corporate or otherwise, of the principal.
(2)
Letter of credit requirements. If the bank or savings institution is not a New Jersey corporation, there must also be attached to the letter of credit, proof of its authority to do business in New Jersey and proof of its operation within the State of New Jersey and a copy of its last financial statement, made not more than one year before, showing its financial conditions. If the principal on the letter of credit is a corporation, there must be attached to the letter of credit a certified copy of the resolution adopted by the Board of Directors authorizing the execution and delivery of said letter of credit.
D.
Copies. The Township Clerk shall keep a supply of copies of these bond requirements in his office for the use of applicants and the general public.