It is the intent of this chapter to provide for the adequate, sufficient, and timely restoration and completion of any construction, reconstruction, excavation, cutting of, or any tampering with any village street, road, or any road right-of-way (paved or gravel). The village shall require the issuance of permits and the posting of a cash bond prior to commencing any such work. The amount of cash bond required is to be in an amount equal to the estimated cost of the improvements plus 25%. Such guarantees shall assure either the performance of the specified work or payment of the specified sum to the village if such improvements have not been installed within the time specified on the final plat or within a two-year period, whichever is shorter.
(Prior Code, Ch. 13 § 1300) (Res. R-2019.7, passed 5-21-2019)