The improvements and standards described in §§ 152.045 through 152.062 and 152.075 through 152.082 have been adopted by Village Council, and no final subdivisions shall be approved unless the improvements listed in the sections of this chapter have been satisfactorily completed prior to such approval. In the event that the improvements listed in the sections of this chapter have not been completed prior to requested final plat approval, the developer shall file with the Water and Sewer Superintendent/Village Administrator a surety bond, cashier’s check or certified check for the amount estimated to be the construction costs as determined by and approved by the Village Engineer, the purpose of such bond guaranteeing to the municipality that such improvements will be constructed and completed in a satisfactory manner and within a period specified by the Village Engineer, which period shall not exceed one year beyond plat approval. Said surety bond or check shall be approved by legal counsel for the village, and shall be made payable to and enforceable by the municipality. Upon satisfactory completion of each of the improvements required, an approval of the same in writing by the Water and Sewer Superintendent/Village Engineer, and with the presentation of letters of certification of payment in full of all contractors, subcontractors, suppliers of materials, engineers, surveyors and all inspection fees and other fees incurred by the installation of the improvements by the developer, a portion of the bonds/checks may be released in writing by the Fiscal Officer as each portion of the infrastructure required is completed to the satisfaction of the Water and Sewer Superintendent/Village Administrator and the Village Engineer. Once all of the improvements have been completed and approved as provided herein, then any remaining bonds may be released in writing by the Fiscal Officer, and any remaining cashier’s checks or certified checks may be returned to the developer.
(Ord. O-28-2021, passed 11-16-2021)