(A) (1) Prior to the undertaking of any improvements, the proprietor shall deposit with the Clerk cash, a certified check or irrevocable bank letter of credit running to the city, whichever the proprietor selects, to insure faithful completion of all improvements within the time specified.
(2) The amount of the deposit shall be set by the City Commission based on an estimate by the Engineer.
(B) All improvements shall be constructed and approved by the city within a length of time agreed upon from the date of approval of the final plat by the City Commission.
(C) The City Commission shall release funds for the payment of work as it is completed and approved by the city.
(Prior Code, § 27-56) (Ord. 53, passed 8-21-1969)