If parkway tree plantings are required as specified in subsection 15.502E of this chapter and section 16.902 of this code, the applicant shall, prior to final plat or development plan approval, post with the director of finance a cash deposit or treasurer's or cashier's check payable to the village in an amount equal to the number of trees required to be planted in the public parkway pursuant to this section multiplied by the amount charged by the village to cover the cost of such trees, and any and all work connected with the guaranteed planting of such trees as such amount is established from time to time by the village manager. The village shall use such funds to plant trees in the parkway. (Ord. 5253, 5-21-2002)