A. Improvements And Performance Bond:
1. Completion Of Improvements: Before the plat is signed by the Chairperson of the Planning Commission, all applicants should be required to complete, in accordance with the Planning Commission's decision and to the satisfaction of the Kingfisher City Engineer, all the street, sanitary, and other improvements including lot improvements on the individual lots of the subdivision as required in this title, specified in the final subdivision plat, and as approved by the Planning Commission, and to dedicate same to the local government, free and clear of all liens and encumbrances on the property and public improvements thus dedicated.
2. Performance Bond May Be Required:
a. The Planning Commission, in its discretion, may waive the requirement that the applicant complete and dedicate all public improvements prior to the signing of the subdivision plat, and that, as an alternative, the applicant post a bond at the time of application for final subdivision approval in an amount estimated by the Planning Commission as sufficient to secure to the local government the satisfactory construction, installation, and dedication of the uncompleted portion of required improvements. The performance bond should also secure all lot improvements on the individual lots of the subdivision as required in this title.
b. Such performance bond should comply with all statutory requirements and should be satisfactory to the City Attorney as to form, sufficiency, and manner of execution as set forth in this title. The period within which required improvements should be completed should be specified by the Planning Commission in the resolution approving the final subdivision plat and should be incorporated in the bond and should not in any event exceed two (2) years from date of final approval.
c. Such bond should be approved by the City Commission as to amount and surety and conditions satisfactory to the City Commission. The Planning Commission may, upon proof of difficulty, recommend to the City Commission extension of the completion date set forth in such bond for a maximum period of one additional year. The City Commission may at any time during the period of such bond accept a substitution of principal or sureties on the bond upon recommendation of the Planning Commission.
3. Temporary Improvements And Maintenance: The applicant/developer should build and pay for all costs of temporary improvements required by the Planning Commission and shall maintain same for the period specified by the Planning Commission. Prior to construction of any temporary facility or improvement, the developer should file with the city a separate suitable bond for temporary facilities, which bond should ensure that the temporary facilities will be properly constructed, maintained, and removed.
4. Cost Of Improvements: All required improvements should be made by the applicant, at the applicant's expense, without reimbursement by the local government or any improvement district therein.
B. Governmental Units: Governmental units to which these bonds and contract provisions apply may file in lieu of said contract or bond to act in their behalf, agreeing to comply with the provisions of this chapter.
C. Failure To Complete Improvements: For subdivisions for which no performance bond has been posted, if the improvements are not completed within the period specified by the planning commission in the resolution approving the plat, the approval shall be deemed to have expired. In those cases where a performance bond has been posted and required improvements have not been installed within the terms of such performance bond, the city may thereupon declare the bond to be in default and require that all the improvements be installed regardless of the extent of the building development at the time the bond is declared to be in default.
D. Acceptance Of Dedication Offers: Acceptance of formal offers of dedication of streets, public areas, easements, and parks shall be by ordinance of the city commission. The approval by the planning commission of a subdivision plat shall not be deemed to constitute or imply the acceptance by the city commission of any street, easement, or park shown on said plat. The planning commission may require said plat to be endorsed with appropriate notes to this effect. (Ord. 938, 11-14-2011)