If a subdivider shows to the satisfaction of the city engineer that he has entered into a contract with a water utility to construct water mains, which contract makes the city a party thereto and provides that the contract may not be modified or rescinded without the consent of the city, except as required by the public utilities commission, and has deposited with the water utility security for the payment of the water utility which the city engineer finds adequate, the subdivider need not accompany an agreement to install water mains with an improvement security.
(Ord. 537 § 2 (part), 1985)