(A) Completion or assurance required. With respect to financial guarantees, the approval of all final subdivision plats shall be conditioned on the accomplishment of 1 of the following:
(1) The construction of improvements required by this ordinance shall have been completed by the subdivider and approved by the City Council; or
(2) Assurances acceptable to the city for the required improvements have been provided. (Assurances which may be deemed to be acceptable are set forth at § 156.24(D)(3)).
(B) Special agreements. A special agreement shall be entered into between the subdivider and the City Council where street trees and street lights have been required by the City Council.
(C) Inspection of public improvements under construction. Before approving a final plat and construction plans and specifications for public improvements, an agreement between the subdivider and the City Council shall be made to provide for checking or inspecting the construction and its conformity to the submitted plans.
(D) Failure to complete construction of a public improvement; remedies. In the event the subdivider shall, in any case, fail to complete the work within that period of time as required by the conditions of the guarantee for the completion of public improvements, it shall be the responsibility of the City Council to proceed to have the work completed. In order to accomplish this, the city shall be reimbursed for the cost and expense thereof by appropriating the cash deposit, certified check, irrevocable bank letter of credit, or negotiable bond which the subdivider may have deposited in lieu of a surety bond, or may take those steps as may be necessary to require performance by the bonding or surety company, and as included in a written agreement between the City Council and the subdivider.
(E) Maintenance bond. Prior to acceptance by the city of improvements, a 2-year maintenance bond in an amount equal to 100% of the total cost shall be deposited by the proprietor.