1212.02   DEPOSITS.
   (a)   Plans and Plats.
      (1)   At the time of filing of a preliminary plat, plan or document for approval, the Planning Commission shall require the owner to deposit with the Clerk-Treasurer a sum of money as determined by the Commission, upon estimates of cost by the Village Engineer and the Law Director.
      (2)   Out of this sum, and out of additional sums provided in these Subdivision Regulations, all engineering, legal or other costs incurred by the Commission in order to determine the acceptability of the plat or drawing shall be paid.
      (3)   If such authorized costs exceed the amount of the deposit, the owner shall deposit an additional sum with the Clerk-Treasurer, in an amount equal to such deficit, prior to formal approval of the plat or plan by the Commission. Any balance of moneys remaining after all authorized bills have been paid shall be refunded to the owner.
   (b)   Public Improvements.
      (1)   Prior to the commencement of any construction of public improvements, the owner shall deposit with the Clerk-Treasurer the sum of one thousand dollars ($1,000) in cash. Out of this sum, and out of additional sums provided in these Subdivision Regulations, all costs or fees for engineering, inspection, legal and other matters required by law and these Regulations shall be paid.
      (2)   Whenever the deposit of one thousand dollars ($1,000) has been reduced by authorized disbursements to less than five hundred dollars ($500.00), the owner shall promptly and from time to time deposit such sums necessary to maintain such deposit at five hundred dollars ($500.00) at all times. Any balance of moneys remaining after all public improvements are completed and costs in connection therewith are paid shall be refunded to the owner.
(Ord. 650. Passed 3-19-63; Ord. 778. Passed 7-7-70.)