The planning commission may prepare and recommend to the town board of trustees for adoption rules and regulations governing the subdivision of land within the corporate limits for the town. All plans, plats or replats of land laid out in lots, plots, blocks, streets, alleys or other ways intended to be dedicated to public or private use within the corporate limits of the town may first be submitted by the town board of trustees to the planning commission for its recommendations. The disapproval of any such plan, plat or replat by the town board of trustees shall be deemed a refusal of the dedications shown thereon. No plat or replat of subdivision of land, or dedication of street or alley or other easement shall be entitled to record unless it bears the signature of the mayor, attested by the town clerk, certifying the approval and acceptance thereof by the town board of trustees. (1998 Code)