(A) The subdivider may provide the Town Council with other liquid assets in an amount equal to the required performance and maintenance bonds. Such liquid assets may include a cash escrow account, certificate of deposit, irrevocable letter of credit, money market accounts, etc., so long as to the proper documents are presented by the subdivider to the Town Council giving said Council proper signatory access to the funds upon default.
(B) Should the subdivider be required to extend to the subdivision site improvements such as extensions of water and sewer lines owned by the town which may provide benefits to other properties in the vicinity of the proposed subdivision, then the subdivider and the Town Council may, by contract, agree that the other property owners in the vicinity of the subdivision who wish to connect to or utilize the installation provided by the subdivider shall pay the town over a period, not to exceed ten years, a fee in an amount agreed to by the contract and that portion of said fee shall be rebated to the subdivider.
(Ord. passed - - )