Permit applications with an erosion control and stormwater management installation cost estimate greater than $5,000.00 must provide a Financial Security Instrument (FSI) prior to permit issuance.

This FSI may be an irrevocable letter of credit (LOC), surety bond, performance bond, certified check, or cashier’s check. A cashier's check needs to have the remitter (person creating check) noted, so funds can be returned appropriately. The FSI must be for 110% of the estimated cost of implementation of all erosion control and stormwater management measures. In the event that proposed work is not completed in a manner sufficiently consistent with the approved plan, the funds may be drawn upon to complete the work. If a letter of credit is used, it shall not expire until the Water Resource Engineering Division releases it.

Upon successful completion of the project and approval of the As-Built Certification, a final inspection will be performed to verify compliance prior to surety release. If surety funds were held by the county, a check will be issued approximately fourteen (14) days after site approval. Letters of credit will be returned to the financial institution with a memo stating that all interest has been relinquished.

• Example Letter of Credit