Prior to the acceptance of any street or other improvement by the city, the subdivider shall post a maintenance bond and/or other acceptable security naming the city as obligee in an amount approved by the Board, upon a recommendation of an amount deemed appropriate by the City Engineer to ensure maintenance of the improvements for a period of at least 24 months from the date of acceptance by the city. Cash, a letter of credit or equivalent security may be submitted in lieu of a maintenance bond.
(Prior Code, § 155.151) (Ord. 0-98-0026, passed 12-21-1998) Penalty, see § 155.999