Except as otherwise provided in this chapter, any loss of wetland caused by excavation shall be replaced on a one to one basis with the same type of wetland. If feasible, the replacement wetland shall be created in the same watershed as defined in Minnesota statutes, section 103G.005, subdivision 17a. Prior to commencement of the excavation of a wetland, the replacement wetland must be completed or an irrevocable bank letter of credit or cash escrow must be furnished to the city in an amount necessary to establish the replacement wetland. (Ord. 567, sec. 1, 1-16-1996)