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Excess Funds in Public Improvement Bond

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Reviewed Date: January 21, 2014

Original Author: 
Broughton, Jeff
Co-author: 
Jones, Josh
Date Created: 
Jan 8, 2014


Subjects:
Finance--Bond issues
Contracts
Construction--Contracts
Surety

Excess Funds in Public Improvement Bond

Summary: 
MTAS was asked whether excess funds that remained from a public improvement bond called to complete required subdivision work should be returned to the surety company.

Attachment(s):
PDF icon Shelbyville public improvement bond.pdf

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MTAS letters and publications were written based upon the law at the time and/or a specific sets of facts. The laws referenced in the letters and publications may have changed and/or the technical advice provided may not be applicable to your city or circumstances. Always consult with your city attorney or an MTAS consultant before taking any action based on information contained in this database.