The Plan Commission may require as a condition to the approval of a final subdivision plat, the dedication or reservation of lands, payment of fees in lieu thereof, or a combination of both, for park and recreational purposes. Dedication requirements shall be accomplished by conveying said lands to the city by a duly recorded legal instrument upon approval of the final plat, and the deposit of such fees into a special park fund established for this purpose, as the Plan Commission shall have determined is in accordance with the limitations, principles and standards enumerated herein.
(Prior Code, § 154.23) (Ord. 1978-6, passed 4-4-1978)