(a) After approval of the preliminary plat, the subdivider shall install the requirements under the supervision of the appropriate authorities. The subdivider may elect to carry out improvements by either of the following methods:
(1) By installing the required improvements and obtaining from the Commission and appropriate governmental departments approval, to be noted on the preliminary plat, that all improvements have been installed in accordance with the standards and specifications contained in these regulations.
(2) By posting with the Commission a certified check or bond payable to Council, sufficient to cover the full cost of installing the required improvements as estimated by the appropriate authority. In case of a bond filed it shall also:
A. Be with surety satisfactory to the Commission.
B. Specify the time for the completion of the improvements and installations, such time to be satisfactory with the Commission.
(b) In submitting the final plat to the Commission the subdivider shall submit a maintenance bond in amount equivalent to twenty-five percent of the estimated cost of the improvements, to guarantee maintenance and repair of the streets in the subdivision for one year after the construction thereof has been approved by an engineer selected by the Municipality.
(Ord.1878. Passed 5-7-68.)