In the twelfth month following approval of construction by the chief under rule 1501:21-17-03 of the Administrative Code, the chief shall make a final inspection of the construction. If the final inspection shows that no fact has become apparent to indicate that the construction was not performed in accordance with the terms of the permit, plans, specifications, and approved changes thereof, and that the completed construction as performed would apparently not endanger life, health, or property, the chief shall give final approval of the construction and release the surety bond as prescribed in rule 1501:21-7-02 of the Administrative Code.