(A) Prior to the installation of any improvements and prior to approval of the plat, the subdivider shall enter into a contract in writing with the city requiring the subdivider to furnish and construct the improvements at his or her sole cost and in accordance with plans and specifications and usual contract conditions. This shall include provision for inspection of details of construction by the Engineer, and shall grant to the Engineer authority to correlate the work to be done under the contract by any subcontractor authorized to proceed thereunder and with any other work being done or contracted by the community in the vicinity. The agreement shall require the subdivider to make an escrow deposit, or, in lieu thereof, to furnish a performance bond, the amount of the deposit or penal amount of the bond to be equal to 125% of the Engineer’s estimate of the total cost of the improvements to be furnished under the contract, including the cost of inspection.
(B) On request of the subdivider, the contract may provide for completion of part or all of the improvements covered thereby prior to acceptance of the plat. In that event the amount of the deposit or bond may be reduced in a sum equal to the estimated cost of the improvements so completed prior to the acceptance of the plat. The time for completion of the work and the several parts thereof shall be determined by the City Council upon recommendation of the Engineer after consultation with the subdivider. It shall be reasonable with relation to the work to be done, the seasons of the year, and proper correlation with construction activities in the plat and subdivision.
(Ord. 179, passed 2-16-78)