(A) At the time of development of property within the town, the owner of the property shall construct street improvements within and adjacent to such property.
(B) The costs of all street improvements shall be the full responsibility of the owner of the property.
(C) If, in the opinion of the Town Engineer, the installation of street improvements would be a hardship on the town or would not be feasible from an engineering standpoint, the installation of improvements may be temporarily deferred provided a cash bond, irrevocable letter of credit or similar instrument approved by the Town Attorney is filed with the town for the cost of the improvements. Estimated costs of the improvements shall be established by the owner’s engineer and reviewed and approved by the Town Engineer.
(D) If the Council determines that street improvements within or adjacent to the property are necessary before the development of the property, the Council may order street improvements to be constructed by the town as provided in § 151.28.
(1990 Code, § 7-6-2)