Whenever any part of the subdivision is subject to a lien for taxes or special assessments collected as taxes which are not yet payable, the final map shall not be recorded until the owner or subdivider executes and files with the board of supervisors of the county wherein any part of the subdivision is located a good and sufficient bond to be approved by the board and by its terms inure to the benefit of the county and conditioned upon the payment of all state, county, municipal, and local taxes and all special assessments collected as taxes, which, at the time the final map is recorded, are a lien against the property, but which are not yet payable. In lieu of a bond, a deposit may be made of money or negotiable bonds in the same amount, and of the kind approved for securing deposits of public money. (Ord. 89 § 4.5, 1955).