(B) Installation of improvements or bond required. All improvements required to be installed in any subdivision shall be installed prior to the filing of a final plat, or in the event all improvements shall not have been installed at such time, a bond, together with sufficient and satisfactory surety in the manner and form hereinafter specified, shall be filed simultaneously with the final plat. The bond and surety shall be sufficient to pay the cost of installing any and all improvements not installed at the time of the filing of the final plat. If all of the required improvements have been installed, a certification of such fact shall be endorsed by the City Engineer on the final plat.
(C) Bond and surety requirements. A bond shall:
(1) Run to the city;
(2) Be in an amount determined by the Board of Works to be sufficient to complete the improvements and installations in compliance with this chapter and any ordinance of the city;
(3) Be with surety satisfactory to the Board of Works; and
(4) Specify the time for the completion of the improvements and installations.
(Prior Code, § 154.14) (Ord. 1978-6, passed 4-4-1978)