Before the final plat of any subdivided area is approved and recorded, the subdivider shall make and install the improvements described in this section. In lieu of final completion of the plat which is finally approved, the subdivider may post a bond or escrow agreement, approved by the City Attorney and Finance Director, with the City, which bond or escrow agreement will insure to the City that the improvements will be completed by the subdivider within two years after the final approval of the plat. The amount of the bond shall not be less than the estimated cost of the improvements and the amount of the estimate must be approved by the City Engineer. If the improvements are not completed within the specified time, Council may use the bond or any necessary portion thereof to complete the same.
(Ord. 90-44. Passed 9-4-90.)