Prior to acceptance of any right of way in the City for dedication by Council, the person requesting such acceptance and dedication shall comply or cause compliance with the paving specifications established by the City Engineer for such projects in conformity with the Subdivision Regulations (Ordinance 47-73, passed October 23, 1973) or such other standards established by Council and shall give or cause to be given a maintenance bond in favor of the City as required by the Subdivision Regulations unless Council waives or modifies this requirement.