(a) Plat Recording and Assurance Required; Types of Assurance. In a proposed subdivision, no new lot shall be sold or permanent building erected until the plat in question has been recorded. Before certification of final approval, the subdivider must guarantee the installation of improvements as specified in these Subdivision Regulations by adhering to one of the following methods:
(1) Previous construction. The required improvements may be installed prior to final approval of the plat, but only after the submission and approval of construction drawings, as required in Section 1238.09 and after inspection fees have been paid. The inspection procedure shall be as set forth in paragraph (b)(3) hereof.
(2) Bond. A performance bond of 100 percent of the estimated cost of the improvements may be deposited with the Municipality.
(3) Check. A certified check of 100 percent of the estimated cost of the improvements may be deposited with the Municipality. Inspections shall be made by the Municipality. The check shall be accompanied by a contract between the subdivider and the payee, which shall state the terms and conditions under which the check may be cashed if the subdivider fails to complete the required improvements within the time limits as specified in paragraph (b)(2) hereof.
(b) Conditions of Assurance.
(1) Compliance with Subdivision Regulations. Provision shall be made in the case of a bond whereby the subdivider, his or her heirs, successors or agents shall complete and comply with all applicable provisions of these Subdivision Regulations.
(2) Time limit. If the guarantee of installing the required improvements of a plat has been made in the form of a bond or certified check, the time limit for completion of the improvements shall be two years. At the termination of this period, the Municipality may use as much of the bond or check as is necessary to complete the improvements.
(3) Inspections. Each phase of work shall be inspected by the Director of Public Service or his or her representative. The subdivider shall inform the office of the inspector that work is ready for inspection twenty-four hours in advance of the time he or she expects it to be obscured by further work. Prior to the installation of any required improvement, an inspection fee amounting to one percent of the estimated total cost of sanitary sewers, storm sewers, water lines, streets, curbs, gutters and sidewalks shall be paid to the Director of Finance at the time of the approval of the bond or certified check.
(4) Annexations. If a proposed subdivision is to be annexed to the Municipality, the bond or certified check shall be held by the Municipality, and the inspection shall be made by the Municipality. A petition to annex a proposed subdivision must be submitted to the County Board of Commissioners prior to preliminary approval before the subdivision will be considered to be under the complete jurisdiction of these Subdivision Regulations. If any Municipal utility line is extended, the bond or certified check shall be held and the inspection made by the Municipality as it pertains to such utility line.
(Ord. 83-32. Passed 8-15-83.)