(a) Performance bonds or other surety such as a certified check or letter of credit, may be required to assure the proper authorities that completion of minimum improvements will be made and that the improvements are in conformance with the standards established in these Regulations. The City Service-Safety Director, shall secure approval as to the form, sufficiency and execution of the surety from their appropriate legal counsel. The surety shall not be released until the City Engineer has certified satisfactory completion of all required minimum improvements and the dedication of land and facilities for public use has been submitted to Council. Reduction of the surety may be made, on a prorated basis, for portions that have received the engineer's certification for meeting minimum requirements and have been dedicated for public use. In no event shall a surety be reduced below twenty percent (20%) of the principal amount.
(b) Maintenance bonds or other surety shall be required by the City Planning Commission to assure maintenance of all improvements in the subdivision by the developer, until dedication of such improvements are formally accepted by Council. The amount of the surety shall be determined by the City Engineer and be submitted and approved in the same manner as performance bonds or other sureties. The developer shall provide for the upkeep and maintenance of all improvements, including snow removal. If there are certificates of occupancy on any street, which dedication has not been accepted, the City, may on twelve hours notice plow the street or effect emergency repairs for any improvement and charge same to developer. The maintenance surety shall be submitted for a period of at least one year after the completion of the improvements and offer of dedication for public use is made, and shall not be required longer than two years.