Prior to approval of the final plat, the owner shall enter into an agreement with the city, on a form to be prescribed by the city, wherein the owner shall agree to reimburse the city for all required repairs to any alley, easement, sewage system, water system, sidewalk, surface drainage, curb, gutter, approach or irrigation line required by this chapter, to be installed by owner as a condition of final plat approval. The guarantee shall be for a period of one year from the date of final plat approval, and shall be secured by a good and sufficient performance bond, irrevocable letter of credit from a responsible lending institution, cashier's check, or other acceptable surety in an amount determined by the city council. (Ord. 994 §2, 2006)