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40 . 25 <br /> ( 6 ) Performance Bond . <br /> a. Upon approval of a conditional use permit the City <br /> shall be provided with a surety bond , cash escrow, <br /> certificate of deposit, securities , or cash <br /> deposit prior to the issuing of building permits <br /> or initiation of work on the proposed improvements <br /> or development. Said security shall guarantee <br /> conformance and compliance with the conditions of <br /> the conditional use permit and the Code of the <br /> City. <br /> b. The security shall be in the amount of the City <br /> Engineer 's or City Building Inspector ' s estimated <br /> costs of labor and materials for the proposed <br /> improvements or development. Said project can be <br /> handled in stages upon the discretion of the City <br /> Engineer and Building Inspector. <br /> c. The City shall hold the security until completion <br /> of the proposed improvements or development and a <br /> certificte of occupancy indicating compliance with <br /> the conditional use permit and Codes of the City <br /> has been issued by the City Building Inspector. <br /> d . Failure to comply with the conditions of the <br /> conditional use permit and/or the Codes of the <br /> City shall result in forfeiture of the security. <br /> 40 . 26 ADMINISTRATION - VARIANCES AND APPEALS <br /> Subd . A Composition. The Board of Adjustment and Appeals shall <br /> consist of all members of the Planning Commission. All <br /> members shall serve without compensation. <br /> Subd . B Organization , Meeting. The Board of Adjustment and <br /> Appeals may elect a chairman from among its appointed <br /> members for a term of one ( 1 ) year; and the Board may <br /> create and fill such other offices as it may determine . <br /> The Board shall meet by order of its Chairman, after <br /> notice , whenever an appeal has been properly presented to <br /> it. A two-thirds ( 2/3 ) vote of a properly convened Board <br /> meeting shall be required to grant the relief sought in <br /> the appeal. <br /> Subd . C All written reports and recommendations to the Board of <br /> Adjustment and Appeals from the City staff shall be <br /> entered in and made part of the permanent written record <br /> of the Board ' s meeting. <br />