Prior to the issuance of any building permit for construction authorized by a planned development approval pursuant to this article, the applicant shall provide the City with one of the following:
A. A performance bond or other security, in an amount satisfactory to the Director of Building and Safety, and in a form satisfactory to the City Attorney to ensure that the subject project will be completed as authorized by the building permit for such project, or
B. Evidence, satisfactory to the Director of Finance Administration, which demonstrates that the planned development approval applicant has the financial capability to complete the subject project as authorized by the building permit for such project. Such evidence may include, but shall not be limited to, proof of adequate construction financing. (Ord. 91-O-2127, eff. 11-8-1991)