(A) If required street, sidewalk, curb, and storm drainage system improvements have not been completed when the building permit is requested, the owner may sign an agreement with the city that such improvements will be completed at owner’s expense within four months and upon making such an agreement, the owner may be issued a building permit.
(B) The agreement shall provide that, if the work is not completed within the four months, the city may complete all required improvements and may recover the full cost and expense together with court costs and attorney fees necessary to collect said amounts from the owner.
(C) The city may require the owner to file with the agreement, to assure his or her full and faithful performance thereof, one of the following:
(1) A surety bond executed by a surety company authorized to transact business in the state in a form approved by the City Attorney;
(2) A personal bond co-signed by at least one additional person together with evidence of financial responsibility and resources of those signing the bond sufficient to provide reasonable assurance of ability to proceed in accordance with the agreement; and
(3) Cash.
(D) Extension of the original four-month time period may be allowed for good cause with the approval of the Council.
(Ord. 350, passed 4-13-1992)