The city may, at its discretion, enter into an agreement with the subdivider to pay the cost of the required improvements through the use of a special assessment. The city shall make the arrangements for actual construction and interim financing as it deems appropriate; provided that, construction of improvements in any section of the subdivision shall be completed in a time period not longer than would be allowed if another form of improvement guarantee were used. In this instance, the subdivider would not be required to provide a surety performance bond or establish an escrow account as provided for in §§ 151.127 and 151.128.
(Prior Code, § 11.6)