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BOND RESOLUTION
A RESOLUTION OF THE DEVELOPMENT AUTHORITY OF
FULTON COUNTY AUTHORIZING, INTER ALIA, THE
ISSUANCE OF $110,500,000 IN AGGREGATE PRINCIPAL
AMOUNT OF DEVELOPMENT AUTHORITY OF FULTON
COUNTY
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What is bond process - development?
The bond process in development refers to the procedure by which developers obtain surety bonds as a guarantee for project completion and adherence to contractual agreements.
Who is required to file bond process - development?
Typically, developers and contractors who are undertaking construction projects that require financial guarantees to ensure compliance with regulations and project completion are required to file for the bond process.
How to fill out bond process - development?
To fill out the bond process, applicants must complete a bond application form, provide necessary documentation such as project details and financial statements, and may need to provide collateral or assurance to the surety company.
What is the purpose of bond process - development?
The purpose of the bond process is to protect project owners and stakeholders by ensuring that the contractor will fulfill their obligations, thus mitigating financial risks associated with project non-completion or default.
What information must be reported on bond process - development?
Information required includes the project's scope, estimated costs, the names and qualifications of the contractors, financial backing, and a detailed plan for project execution.
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