(A) No final subdivision plat will be recorded by the Town of Colorado City unless an approved method of assurance is submitted with the final plat and approved by the Town Council. Utility service assurances shall be provided by letter from water, sewer and other utility providers to guarantee installation of their respective improvements.
(B) The subdivider shall furnish with the final plat a detailed line item cost estimate for construction of the required on and off site improvements, signed and sealed by a professional engineer. The amount of the assurance shall be based on the engineer's cost estimate for all required and remaining site improvements, including a ten percent contingency fund to provide for any increased costs that may arise during construction and an additional amount for reasonable costs for project administration and inspections, as approved by the Town Engineer, unless a third party trust agreement will be used as financial assurance.
(C) (1) If the subdivider chooses to construct the required improvements prior to the recording of the final plat, he or she shall first obtain the necessary permits from the town before construction begins.
(2) A certificate by the engineer of record on the as-built plans stating that the construction has been completed in substantial conformance to the specifications and standards contained within the approved construction plans, must be reviewed and found acceptable by the Town Engineer, prior to authorizing recordation of the final plat.
(Ord. 2007-2, passed 5-29-2007; Am. Ord. 2014-02, passed 12-15-2014)