(A) To assure that the improvements required by this chapter are satisfactorily completed, adequate improvement security shall be furnished by the subdivider for the cost of the improvements according to the plans and specifications in a sum or amount equal to the estimate approved by the City Engineer. Partial release of the improvement security may be made in accordance with the provisions of the Subdivision Map Act.
(B) The improvement security shall be released by the city engineer upon acceptance of the work or upon revocation or reversion to acreage of the subdivision and abandonment of all streets and easements, except the security in the amount specified by the City Engineer to guarantee workmanship and materials shall remain in full force and effect for one year after acceptance of the improvements.
(`61 Code, § 20.9) (Ord. 505, passed 7-21-1970)