A. After submission of the Tentative Map and before the approval and acceptance of the Final Map, the City Engineer shall estimate the cost of all improvements of every kind and character required to be installed by the subdivider, and the subdivider shall thereon post with the City cash or a surety company bond issued by a corporate surety company authorized to do business in the State in a form satisfactory to the City Attorney in an amount ten (10) percent in excess of the engineer's estimate of the cost of the improvements to insure the installation of all improvements within the time fixed by the City Engineer, but not to exceed one (1) year; provided, however, that such time may be extended upon the renewal of any bond and for a time approved by the City Engineer, but not to exceed one (1) year.
B. The City Engineer shall also estimate the cost of all general supervision and inspections required to insure proper installation and completion of all improvements in accordance with the City's general requirements therefor. The subdivider shall thereupon post with the City the amount so estimated, and upon completion of all the work, any amount not actually used shall be refunded to the subdivider or, if the fund is exhausted before completion of all the improvements, the subdivider shall forthwith pay to the City an amount estimated by the City Engineer to be sufficient to cover completion; provided, however, that if the subdivision is of such magnitude that the installation and completion of improvements will extend over a period in excess of six (6) months, or if the amount of inspections and general supervision as estimated will exceed One Thousand Dollars ($1,000.00), the subdivider may deposit an amount estimated to be sufficient for the first six (6) months, or the amount of One Thousand Dollars ($1,000.00), and the City shall bill the subdivider monthly as the work progresses, which amount shall be promptly paid by the subdivider until the City Engineer is satisfied that the total amount paid to the City will be sufficient to cover the costs of all general supervision and inspections by the City.
('65 Code, § 31-128) (Ord. No. CS-622 § 1 (part))