Construction of public utilities, streets and sidewalks, including sanitary sewer systems, water systems, streets and storm sewers, located on property or easements dedicated or to be dedicated to the city in the plat, shall be completed by the city under the supervision of the City Engineer. In the alternative, the developer, at the option of the city, may install any or all of the above-referenced improvements provided the following are met:
(A) Plans and specifications shall be approved by the city;
(B) The city shall provide inspection and be compensated in return by the developer;
(C) The developer shall provide the city with a cash escrow, bond or letter of credit in an amount equal to one and one-quarter times the estimated cost of the improvements;
(D) The developer shall submit written proof to the city that all the improvements have been paid in full prior to release of any portion of the escrow, bond or letter of credit; and
(E) Reproducible copies of the as-built engineering plans shall be supplied to the city in the approved city format.
(‘81 Code, § B1-46) (Ord. 293, passed 4-21-83)