§ 151.216  DEVELOPMENT AGREEMENT FOR IMPROVEMENTS.
   (A)   Plans and specifications.  Prior to installation of any required improvements and prior to approval of the final plat, the subdivider shall enter into a contract in writing with the city requiring the subdivider to furnish and construct the improvements at his or her sole cost and in accordance with plans and specifications and usual contract conditions all approved by the Council, which shall include provisions for supervision of details of construction by the City Engineer and grant to the City Engineer authority to coordinate the work to be done under the contract by any subcontractors authorized to proceed thereunder and with any other work being done or contracted by the city in the vicinity.  The agreement shall require the subdivider to make an escrow deposit or, in lieu thereof, to furnish a performance bond as specified in division (B) below, the amount of the deposit and the penal amount of the bond to be equal to the city engineer’s estimate of the total cost of the improvements to be furnished under the contract, including the cost of inspection by the city.  On request of the subdivider, the contract may provide for completion of part or all of the improvements covered thereby, prior to acceptance of the plat, and in the event, the amount of the deposit or bond shall be reduced in an amount equal to the estimated cost of the improvements to be furnished after the acceptance of the plat only.  The time for completion of the work and the several parts thereof shall be determined by the Council upon recommendation of the City Engineer after consultation with the subdivider and shall be reasonable in relation to the work to be done, the season of the year and proper coordination with construction activities in the subdivision.  The provisions of this section shall be waived or amended as deemed appropriate by the City Council upon advice of the City Engineer on those improvements which the city has agreed to install under the provisions of § 151.217
   (B)   Financial guarantee.  The contract required by this section shall require the subdivider to make an escrow deposit or in lieu thereof, furnish a performance bond as follows.
      (1)   Escrow deposit.  An escrow deposit shall be made with the City Clerk in an amount equal to the total cost, as estimated by the City Engineer including the cost of inspection by the city, of all the improvements to be furnished and installed by the subdivider pursuant to the contract and which have not been completed prior to approval of the final plat.  The city shall be entitled to reimburse itself out of the deposit for any cost and expense incurred by the city for completion of the work in case of default of the subdivider under the contract, and for any damages sustained by the city on account of any breach thereof.  Upon completion of the work and termination of any liability to the city of the subdivider under this contract, the balance remaining in the deposit shall be refunded to the subdivider.
      (2)   Performance bond.  In lieu of making the escrow deposit above described, the subdivider may furnish the city with a public contractor’s performance bond in the form prescribed by statute, with corporate surety, in a penal sum equal to the total cost, as estimated by the City Engineer including the cost of inspection by the city, of all of the improvements to be furnished and installed by the subdivider pursuant to the contract and which have not been completed prior to approval of the final plat.  The bond shall be approved by the City Attorney and filed with the City Clerk.
      (3)   Construction plans.  Construction plans for the required improvements, conforming to all respects with the standards of the City Engineer and this code, shall be prepared at the subdivider’s expense by a professional engineer who is registered in the State of Minnesota and shall contain his or her seal.  The plans, together with the quantities of construction items, shall be submitted to the City Engineer for his or her estimate of the total cost of the required improvements.  Upon approval they shall become a part of the contract required in division (A) above.  The tracings of the plans approved by the City Engineer plus 2 prints shall be furnished to the city to be filed by the City Engineer as a record in the Engineering Department.
      (4)   Inspection.  All required improvements on the site that are to be installed under the provisions of this section shall be inspected during the course of construction by the City Engineer at the subdivider’s expense, and acceptance shall be subject to the City Engineer’s certificate of compliance with the contract.
   (C)   Improvements completed prior to approval of final plat.  Improvements within the subdivision which have been completed prior to application for approval of the final plat or execution of the contract for installation of the required improvements shall be accepted and equivalent improvements in compliance with the requirements of this section if the City Engineer certifies that he or she has determined that the existing improvements conform to applicable city standards.
(Prior Code, § 66-222)  Penalty, see § 151.999