The Bonds Policy was adopted by Council on the 22 July 2020.
The objectives of this policy are to:
This Policy has been prepared to outline Council’s requirements for the lodgement of bonds and guarantees associated with the development process where public infrastructure works are undertaken by parties other than Council.
Council will require a cash bond or bank guarantee to ensure that future facilities and infrastructure including landscaping are delivered in a specified timeframe, to protect existing Council assets, or to ensure that constructed works perform or are delivered to relevant standards. They are also accepted to facilitate the release of a subdivision or occupation certificate prior to completion of all public infrastructure works.
This policy outlines the different types of security bonds which may be required in accordance with Section 4.17(6) and 6.15 of the Environmental Planning & Assessment Act 1979 including the required bond amounts and the duration and return of bonds and bank guarantees.
Any bond taken under this policy must not be applied or used for the purposes of deferring any development contributions arising under Section 94 (now Section 7.11) or any obligation under a Voluntary Planning Agreement (VPA) or Works-In-Kind Agreement (WIK). Conversely, any bond, bank guarantee, or the like, taken as security to defer Section 94 (now Section 7.11) development contribution, VPA or WIK obligations, cannot be applied to any purposes described under this bonds policy.