Prior to issuance of zoning permits, a cash bond or other financial guarantee shall be placed on deposit with the Finance Director of the City, to insure that improvements, such as landscaping, parking and sidewalks, are installed in conformance with the approved site plan. The bond or guarantee shall be for the construction cost estimate of the improvements based on an estimate approved by the City Engineer, plus twenty percent (20%) of the estimate in lieu of increased costs, and shall be for a period not to exceed two years and providing for the complete construction of the improvements within that period. Such performance bond or other financial guarantees shall be returned to the applicant only if and after the certificate of occupancy is issued to the applicant. (Ord. 1989-48. Passed 8-28-89.)