The text
Sec. 17-1. - Release and reduction of construction and/or improvement guarantees.#
Upon receipt from the planning board of a recommendation in accordance with the provisions of the subdivision and land development rules and regulations of the town, the town council shall consider such recommendation and shall either: (1)
Approve the recommendation to release the guarantee and authorize the finance director to return all improvement guarantees to the developer;
(2)
Approve the recommendation to reduce the amount of the guarantee and authorize such reductions; or
(3)
Reject such recommendation and refer the matter back to the planning board for further review and recommendation with the reasons for such rejection stated on the referral back to the planning board.
(Code 1970, § 17-1; Ord. No. 2004-9, 7-8-2004)