(A) Completion of Improvements. No final official plat of any subdivision shall be approved unless all the improvements required by this chapter have been completed prior to the filing of such plat with the Planning Commission for final approval in accordance with these Subdivision Regulations and under the supervision of the officials having jurisdiction thereof.
(B) Bond in Lieu of Performance. In lieu of completion of such improvements, the following procedures may be followed:
(1) Subdivisions within the City. In lieu of completing the improvements required in subsection (A) hereof, the subdivider shall furnish the Planning Commission and the City with a performance bond in the form of cash or a certified check or a bond issued by a recognized surety company, acceptable to the Commission. The form of such bond shall be acceptable to the Director of Law. Such bond shall be payable to the City and shall be sufficient to cover the cost of any or all required improvements, as estimated by the City Engineer, thereby to secure the actual construction and installation of such improvements within the period of time required in Section 1220.13(B). The estimated cost shall include the cost of all inspections required herein based on the hourly compensation of the inspector or inspectors for the time necessary to make such inspections within the subdivision.
(2) Subdivisions outside the City. In lieu of completing the improvements required in subsection (A) hereof, the subdivider shall furnish the Planning Commission and the City with a performance bond in the form of cash or a certified check or a bond issued by a recognized surety company, acceptable to the Commission. The form of such bond shall be acceptable to the Director of Law. Such bond shall be payable to the City and shall be sufficient to cover the cost of any or all required improvements, as estimated by the City Engineer or an engineer authorized by the Commission to estimate such costs, thereby to secure the actual construction and installation of such improvements within the period of time required in Section 1220.13(B). The estimated cost shall include the cost of all inspections required herein, based on the hourly compensation of the inspector or inspectors for the time necessary to make such inspections within the subdivision.
(Ord. 110-61. Passed 7-17-61.)