(A) After approval but before recording of the plat, the subdivider shall install the improvements required under the supervision of the appropriate authorities. The subdivider may elect to carry out improvements by either of the following methods:
(1) By installing the required improvements and obtaining from the Planning Commission and appropriate governmental departments approval, to be noted on the plat, that all improvements have been installed in accordance with the standards and specifications contained in this chapter; or
(2) By posting with the Commission a certified check or bond payable to the governing body of the political entity in which the subdivision is located sufficient to cover the full cost of installing the required improvements as estimated by the appropriate authority. In case of a bond filed, it shall also meet the following requirements:
(a) By a surety satisfactory to the Commission; and
(b) Specify the time for the completion of the improvements and installations, the time to be satisfactory to the Commission.
(B) In submitting the final plat to the Commission, the subdivider shall submit a maintenance bond in an amount equivalent to 25% of the estimated cost of the improvements, to guarantee maintenance and repair of the streets in the subdivision for one year after the construction thereof has been approved by the engineer.
(1982 Code, § 154.48) (Ord. 1979-12, passed 8-6-1979) Penalty, see § 154.999