No final plat of any subdivision shall be approved unless:
(A) The improvements required by this subchapter have been installed prior to that approval; or
(B) In the alternative, the subdivider shall have filed with the City Council a surety bond, or cashier’s or certified check, to ensure the construction of the improvements required by this subchapter in a satisfactory manner and within the period specified by the City Council, that period not to exceed 2 years. No surety bond shall be accepted unless it be enforceable by or payable to the city in a sum at least equal to the cost of constructing the improvements as estimated by the city official having jurisdiction and in form with surety and conditions approved by the City Attorney.
(1969 Code, § 23-78) (Ord. 1961-12, passed 4-24-1961) Penalty, see § 10.99