For subdivisions for which no financial guarantee has been posted, if the improvements are not completed within the period specified by the city council in the resolution approving the plat, subject to Section 16.12.270 of this title, the approval shall be deemed to have expired. In those cases where a financial guarantee has been posted and required improvements have not been installed within the terms of the guarantee, the city may thereupon declare the guarantee to be in default, call on the guarantee, and require that all the improvements be installed regardless of the extent of the building development at the time the financial guarantee is declared to be in default.
(Ord. 1179 § 5.1(E), 1987)