Council unanimously agreed that Salamander Resort and Spa had met the legally binding and duly bonded performance requirements related to the public improvements on their property. The motion allowed Town Staff to release an Irrevocable Letter of Credit from JP Morgan Chase totaling $2,155,745 on the condition that Salamander execute (and the Town accept) a one-year "maintenance bond" totaling 5% of the actual cost of the public improvements, primarily water and waste water treatment facilities and related infrastructure. The new, one-year bond should total $183,673.