(A) Maintenance bond. As a condition of acceptance of the public improvements or release of the financial guarantee, the Board shall require the subdivider to post a maintenance bond or other financial guarantee as specified in § 156.208, in an amount equal to 25% of the cost of all improvements.
(B) Length of maintenance bond. The maintenance guarantee shall be for a period of three years or until 75% of the lots in the subdivision are developed, whichever is longer.
(Prior Code, § 8-123) (Ord. 1986-7, passed 10-21-1986)