The subdivider shall obtain a performance bond from a bonding company authorized to do business in the state. The bond shall be payable to the village and shall be in an amount to cover 110% of the cost of all improvements, as estimated by the subdivider and accepted by the Village Board upon recommendations of the Village Attorney and Engineer. The duration of the bond shall be until such time as the improvements are accepted by the Village Board in accordance with § 153.134 of this chapter.
(Ord. 2009-04, passed 4-23-2009)