Securities shall be required by the provisions of the subdivision map act of the state of California, section 66499(a) of the Government Code. (Ord. 1236, 10-9-1979)
Each improvement security shall be subject to approval and acceptance by the city attorney and city engineer.
When a portion of an improvement has been fully completed, the city engineer may in his discretion authorize a reduction in an improvement security given for faithful performance equal to the estimated cost of the completed portion of the improvement.
Upon the failure of a subdivider to complete an improvement within the time specified in an agreement, the city council may, upon notice in writing of not less than ten (10) days served upon the person, firm or corporation signing the contract or upon notice in writing of not less than twenty (20) days served by registered mail, addressed to the last known address of the person, firm or corporation signing the contract, determine that the improvement work or any part thereof is incomplete and may cause to be forfeited to the city the portion of the sum of money or bonds given for the faithful performance of the work or any cash savings and loan certificates or shares deposited and assigned to assure the faithful performance of the work to complete the improvement work. (Ord. 1152, 4-25-1978)