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the undergrounding. <br /> 16. If the Applicant's proposed artwork does not meet the minimum monetary requirement as <br /> determined by the City, the owner must submit the balance of funds payable to the City <br /> prior to the issuance of a Certificate of Occupancy. <br /> 17. Under Section 267-4, the City Manager and/or his/her designee in review of any <br /> application, may refer any such application presented to it to such engineering, planning, <br /> legal, technical, or environmental consultant or professional(s) employed by the City as <br /> the Manager shall deem reasonably necessary to enable him/her to review such application <br /> as required by law. Charges made by such consultants or professionals shall be in accord <br /> with the charges customarily made for such services in Miami-Dade County, and pursuant <br /> to an existing. contractual agreement by and between the City such consultant. <br /> Charges made by the City shall be in accord with the hourly rates charged by such <br /> consultants or hourly rates of employed professionals and shall be paid within 30 days on <br /> submission of City voucher. <br /> 18. At the time of submission of any application or thereafter, it is required that an escrow <br /> account be established, from which withdrawals shall be made to reimburse the City for <br /> the cost of professional review services, if any. The .Applicant shall then provide funds to <br /> the City for deposit into such account in an amount to be determined by the City Manager, <br /> based on his/her evaluation of the nature and complexity of the application. The Applicant <br /> shall be provided with copies of any City voucher for such services as they are submitted <br /> to the City. When the balance in such escrow is reduced to one-third (1/3) of its initial <br /> amount, the applicant shall deposit additional funds into such account to bring its balance <br /> up to the amount of the initial deposit. If such account is not replenished within thirty- <br /> days (30) after the applicant is notified, in writing, of the requirements for such additional <br /> deposit, the City may suspend its review of the application. An application shall be <br /> deemed incomplete if any amount shall be outstanding. A building permit or Certificate <br /> of Use and Certificate of Occupancy shall not be issued unless all professional review fees <br /> charged in connection with the applicant's project have been reimbursed to the City. Once <br /> all pertinent charges have been paid, the City shall refund to the Applicant any funds <br /> remaining on deposit. <br /> 19. The .Applicant shall furnish payment and performance bond in an amount determined by <br /> the Building Official to ensure Applicant's performance of public improvements required <br /> pursuant to site plan approval and in accordance with recommendations of the Building <br /> Official after review of construction plans submitted based on development approval <br /> granted herein. Any such bond shall be issued by a surety having a minimum rating of A- <br /> 1 in the A.M. Best's Key Rating Guide, Property/Casualty Edition, shall be subject to the <br /> approval of the City, and shall provide that "this bond may not be cancelled or allowed to <br /> lapse until 30 days after receipt by the City, by certified mail, return receipt requested, of <br /> written notice from the issuer of the bond of intent to cancel or not to renew". As <br /> improvements are made the City, within its discretion, may reduce or eliminate the bond <br /> amount. These rights reserved by the City with respect to any construction bond established <br /> I5-Z- 17550 Collins Avenue 6 <br />