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(4) Release or reduction of security. (A) No construction security shall be released until a certificate of completion has been approved by the public works director, or his designee and security for maintenance has been established as required above. (B) Reduction in the amount of surety required, other than a final draw or reduction, may be authorized by the public works director after completion of any distinct and separate phase or portion of the required improvements. The amount of any given reduction shall not exceed eighty (80) percent of the cost of the completed work, as determined by the public works director following review of a cost estimate for said work prepared and certified by the developer's engineer. A reduction in construction security shall not be construed as acceptance of the improvement. Formal acceptance shall occur as provided elsewhere in this chapter, and only upon establishment of proper maintenance security, where required. (C) There shall be no reduction in the amount of security posted for residential subdivisions except for sidewalk improvements as provided in section 913.09(5)(b)2.c. (5) Security for municipalities. If the applicant is required to construct a public system which will be accepted by a municipality, the applicant shall furnish the municipality such security as the municipality may require, including security for both performance and maintenance of the system. Furthermore, prior to final plat approval, the applicant shall furnish to the planning department, evidence from the municipality that its requirements have been satisfied. SECTION #8: SEVERABILITY If any clause, section or provision of this Ordinance shall be declared by a court of competent jurisdiction to be unconstitutional or invalid for any cause or reason, the same shall be eliminated from this Ordinance and the remaining portion of this Ordinance shall be in full force and effect and be as valid as if such invalid portion thereof had not been incorporated therein. SECTION #9: REPEAL OF CONFLICTING ORDINANCES The provisions of any other Indian River County ordinance that are inconsistent or in conflict with the provisions of this Ordinance are repealed to the extent of such inconsistency or conflict. SECTION #10: INCLUSION IN THE CODE OF LAWS AND ORDINANCES The provisions of this Ordinance shall become and be made a part of the Code of Laws and Ordinances of Indian River County, Florida. The sections of the Ordinance may be renumbered or relettered to accomplish such, and the word "ordinance" may be changed to "section", "article", or any other appropriate word. 124