(A) The final plat should not be submitted until all of the required improvements with the plat have been completed according to plans and specifications as set forth herein or until satisfactory arrangements have been made to complete them. This may be accomplished by either the full installation of all required improvements by the developer at the time that the final plat is to be forwarded to the City Council with a recommendation of approval from the Planning Commission, or by the provision of a financial guarantee of performance in the way described in division (B) of this section.
(B) PERFORMANCE GUARANTEE. A duly executed completion bond by the subdivider, with the corporate surety, to be approved by the City Council, to be filed with the City Clerk, in an amount equal to the estimate of the costs of construction of all improvements, certified by the City Attorney, as good, valid and enforceable by the city , securing the satisfactory completion of all improvements in accordance with the description, plans, profiles and specifications submitted by the subdivider and approved by the City Council.
(Ord. 153, passed 5-20-69)