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Improvement security posted for the improvements required for the proposed subdivision shall be for the full amount of the estimated costs of the improvements as determined by the City Engineer pursuant to Section 9-3.1014 of Article 10 of this chapter. In addition, security shall be posted to secure payment by the subdivider to the contractor, his subcontractors, and to persons renting equipment or furnishing labor or materials to them for the improvement of the proposed subdivision in the full amount of the estimated costs of such materials and services as determined by the City Engineer. Five Hundred and no/100ths ($500.00) Dollars of the required improvement security shall be in the form of a cash deposit with the City. No interest shall be earned on the deposit. Such cash deposit may be used by the City in correcting unsafe or emergency road conditions occasioned by or arising out of the performance of any work in constructing the subdivision improvements, in weed abatement within the subdivision, in periodic street cleaning, or in the removal of trash from within the subdivision. The City may use the cash deposit only if the City is unable, after reasonable attempts, to contact the developer (or his contractor) to perform the required emergency work, weed abatement, or trash removal or if the developer or his contractor refuses to forthwith perform the required work after being informed of its necessity by the City. If any part of the Five Hundred and no/100ths ($500.00) Dollar cash deposit is used by the City, the developer shall be charged for the cost of the required work and shall remit to City, within (10) days after written notice of such expenditures, sufficient cash to bring the deposit to Five Hundred and no/100ths ($500.00) Dollars once more. Any portion of the cash deposit which has not been used by the City at the time the street improvements are accepted into the City roads system shall be returned to the developer. Any improvement security required in addition to the Five Hundred and no/100ths ($500.00) Dollars may be of any type specified in Section 66499 of the Subdivision Map Act.
(Ord. 744-NS, eff. April 17, 1980)