A final plat shall not be approved or signed unless:
(A) All of the required improvements, including improvements required on individual lots, are completed in accordance with the requirements of this chapter, and such completion is certified by the County Engineer, and all improvements to be dedicated to the county are free and clear of all encumbrances and liens; or
(B) The applicant shall post a financial guarantee pursuant to §§ 151.175 et seq. at the time of application for final subdivision approval in an amount estimated by the County Engineer as sufficient to secure to the county the satisfactory construction, installation and dedication of the uncompleted portion of required improvements. The financial guarantee shall also secure all lot improvements on the individual lots of the subdivision.
(1) Such financial guarantee shall comply with all statutory requirements and shall be satisfactory to the County Attorney as to form, sufficiency, and manner of execution as set forth in these regulations. The period within which required improvements must be completed shall be specified by the County Board in the resolution approving the final subdivision plat and shall be incorporated in the financial guarantee and shall not in any event exceed two years from date of final approval.
(2) Such guarantee shall be approved by the County Board as to amount, surety, and conditions. The Planning Commission may, upon proof of difficulty, recommend to the County Board extension of the completion date set for in such financial guarantee for a maximum period of one additional year.
(Ord. 33, § 5.4, passed 1-21-92)