(A) When streets, sanitary sewers, stormwater management facilities, water lines or other required improvements in the development have been completed in accordance with the final approved plan, such improvements shall be deemed private until such time as they have been offered for dedication to the municipality and accepted by separate ordinance or resolution or until they have been condemned for use as a public facility.
(B) Prior to acceptance of any improvements or facilities, the Municipal Engineer shall inspect them to ensure that they are constructed in accordance with the approved plan and are functioning properly. In the case of any stormwater control facility, it must be free of sediment and debris.
(C) The owner shall submit as-built plans for all facilities proposed for dedication.
(1) Prior to acceptance of any improvements or facilities, the applicant shall provide a financial security to secure the structural integrity and functioning of the improvements.
(2) The security shall:
(a) Be in the form of a bond, cash, certified check or other negotiable securities acceptable to the municipality;
(b) Be for a term of 18 months; and
(c) Be in an amount equal to 15% of the actual cost of the improvements and facilities so dedicated.
(Ord. 4-2011, passed 10-8-2011)