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No final plat of any subdivision shall be approved unless:
(a) The improvements specified in these Subdivision Regulations have been installed prior to such approval; or
(b) The subdivider shall have filed with the City Manager a cashier's or certified check or a performance bond with good and sufficient sureties that the subdivider shall construct all the required improvements in accordance with the plans and specifications as approved by the City Engineer or officials having jurisdiction. The deposit or bond shall be in an amount equal to the cost of constructing the improvements, as estimated by the City or other appropriate officials, and shall be in a form with surety and conditions approved by the City Solicitor.
(1980 Code 152.35)