For all residences to be located within a subdivision, no building permit shall be issued except as herein provided until all the public improvements within the subdivision are completed and accepted by the village or the village determines it has adequate security deposited to guarantee the completion of said improvements unless the applicant shall pay to the village sufficient funds as determined by the village engineer on a pro rata basis per lot to generate sufficient funds to pay for and guarantee the completion of all required public improvements within the subdivision. (Ord. 2008-09-01, 9-24-2008)