The developer shall deposit with the city not less than $1,000 cash for subdivisions of four or less parcels, and $3,000 for other subdivisions, or such additional amount as required by the City Engineer, not to exceed 1% of the construction cost. The deposit may be used at the discretion of the city to correct deficiencies and conditions caused by the subdivider or his or her contractor that may arise during or after the construction of the subdivision. Any unexpended amount will be returned to the developer at the time all bonds are released.
('61 Code, § 10-2.708.4) (Ord. 252 C.S., passed 8-3-81)