The applicant shall provide a cash bond, irrevocable letter of credit, certificate of guarantee or other means of security acceptable to the County Attorney prior to the issuance of any building and/or grading permit for construction of a development requiring a stormwater management facility. The amount of the security shall not be less than the total construction cost of the publicly maintained stormwater management facility as estimated by the Department. The security shall include provisions concerning forfeiture for failure to complete work specified in the approved final stormwater management plan, compliance with all the provisions of this Division and other applicable laws and regulations, and any time limitations. Action on a defaulted permit shall be taken in accordance with the provisions set forth in Section 32-135. The security shall not be fully released without final inspection of completed work and the acceptance of "as-built" plans. A provision may be made for the partial release of up to 75 percent of the amount of the security.