The Village Board shall not approve any final plat of subdivision, and, hence, the final plat shall not be entitled to recording, until all the requirements of the following have been met.
(A) In accordance with § 154.087, the subdivider has posted adequate security to guarantee the satisfactory completion of all improvements shown on the approved improvements plans;
(B) The subdivider has provided sufficient information to show how all improvements which are intended to remain in private ownership will be perpetually maintained; and
(C) The subdivider has posted adequate security to guarantee the satisfactory condition of all public improvements for the time period stated in § 154.087.
(`92 Code, § 34-4-2)