NAC408.437. Requirements for performance or cash bond.

     1. The district engineer may require a performance or cash bond in an amount equal to 110 percent of the estimate of the district engineer for the costs of the improvements authorized pursuant to an occupancy permit to ensure the successful and timely completion of the improvements.

     2. The district engineer shall, in determining whether a bond is necessary, consider:

     (a) The experience of the Department with the holder of the permit;

     (b) The potential disruption to the maintenance or operation of the highway if the placement of the authorized improvements is approved; and

     (c) The potential for increased hazards to the users of the highway if the proposed improvement is not placed in a timely manner or is placed in a manner inconsistent with the provisions of the permit.

     (Added to NAC by Dep’t of Transportation, eff. 1-6-95; A by R135-98, 10-3-2000)