Bonds are required to assure that a project will be completed if the developer should not be able to meet his obligations. There are separate bonds for construction and maintenance. Bonds are required for:
- All roadway, drainage, water and wastewater construction within a platted Subdivision or any Subdivision of more than two lots.
- All roadway and drainage construction outside a developments project boundaries
- All construction within county or municipal service district rights-of-ways
Bonds may be in the form of:
- A certified or cashier’s check
- An irrevocable letter of credit
- An escrow agreement
- A surety bond
- Three party agreement
All forms are subject to county approval and are payable to the St. Johns County Board of County Commissioners and no work will be authorized until the construction bond is submitted to the County Administrator and accepted by the Clerk of Court. The Subdivision plat will not be accepted by the Clerk of Court for recording until a construction bond is on file or the Subdivision improvements are completed to release the bond. All construction is to be completed within one year of bonding.
Construction bonds are 115% of the cost of constructing the roadway, drainage, water and wastewater improvements and must remain in effect for at least 14 months. After completion of construction the construction bond may be released and a maintenance bond accepted. Maintenance bonds are 15% of the total for construction of the same and must remain in effect no less than 26 months. The maintenance bond is to assure the timely maintenance of roads and improvements and as a guarantee against faulty workmanship, construction and materials.