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maintain the escrow fund at a balance equal to the original amount deposited. Any escrow <br /> shall be held in a special escrow account and shall be credited to the said Owner. <br /> Expenditures to be secured by the aforesaid escrow account shall include but not be limited <br /> to Staff time in excess of that covered by the standard application fees; engineering <br /> consultant and legal consultant expenses incurred by the City of Orono in Development <br /> application review and approval; and all other City staff administrative and consultant <br /> services performed in the processing of said review and approval. <br /> Sec. 75-4. Construction Deposit Required. Prior to issuance of permits and prior to <br /> commencement of any site work the Owner shall deposit with the City in escrow an amount, <br /> as determined by the City Administrator (or as directed in the City Fee Schedule), necessary <br /> to secure coverage of the total costs associated with review and inspection of the construction <br /> of Improvements associated with the approved Development. The owner will then be <br /> expected to maintain the escrow fund at a balance equal to the original amount deposited. <br /> Any escrow shall be held in a special escrow account and shall be credited to the said Owner. <br /> Expenditures to be secured by the aforesaid escrow account shall include but not be limited <br /> to Staff time in excess of that covered by the standard application fees; engineering <br /> consultant and legal consultant expenses incurred by the City of Orono in review and <br /> inspection of the Improvements; any office and field checking; when necessary, setting grade <br /> and drainage requirements; general supervision; staking; testing; installation; cost of traffic <br /> control and street signs; drafting as-built drawings; and all other City staff administrative and <br /> consultant services performed in relation to construction of the Improvements. <br /> Sec. 75-5. Regular Billing Statements of Expenditures Required. The City will on a <br /> regular basis forward to the Owner a statement and bill for the expenditures incurred by the <br /> City for staff and consultant services. Such statements shall be due and payable within <br /> fifteen (15) days of receipt by the Owner. No statement will be sent if there are no expenses <br /> incurred in the period since the most recent statement. The City shall itemize all time, <br /> services, and materials billed to any Owner and said time, services, and materials shall be in <br /> accordance with the rules,regulations, and fees as promulgated and adopted by the Council. <br /> Sec. 75-6. Reimbursement of Escrow Fund. The owner shall reimburse the escrow fund <br /> for any deficits caused if the amount actually expended by, or billed to, the City exceeds the <br /> escrow fund balance. <br /> Sec. 75-7. Refund of Unexpended Balance. Any balance remaining in the account upon <br /> completion of the development shall be returned to the depositor by the Finance Department <br /> after all claims and charges thereto have been paid. <br /> Sec. 75-8. Escrow Fund not to Draw Interest. The City shall not pay interest on the <br /> monies deposited in the escrow fund. <br /> Sec. 75-9. Rates Established. The City Administrator shall establish the rates charged for <br /> the services performed by city staff or consultants." <br /> SECTION 2. The Orono Municipal Zoning Code Section 78-42 entitled Fees for Zoning <br /> Applications is hereby amended as follows: <br /> Page 2 of 6 <br />