The financing of the installation of improvements shall be accomplished by one (or a combination of both) of the following methods:
(A) The subdivider may install the required improvements under private contract in which case the subdivider shall enter into a legal agreement, or contract with the city to make install, and complete all of the improvements required of the subdivider by this chapter, and shall ensure the completion of the same by filing security as authorised by the Subdivision Control Act in favor of the city in a sum equal to the cost of the improvements as estimated by the City Engineer; and/or
(B) The subdivider may request, by petition to the City Commission, the installation of the improvements required by the subdivider wherein the city may install all or any part of the required improvements under contract for any portion of the subdivision and assess the subdivider for said improvements costs and under any conditions which the City Commission may determine.
(1991 Code, § 5.353)