No building permit nor any water, sewer, plumbing, or electrical permit shall be issued by the city to the owners or any other person with respect to any property in any subdivision covered by this chapter until:
(A) Such time as the developer and/or owner has complied with the requirements of this chapter and the approved final plat regarding improvements with respect to the block facing the street and/or streets on which the property abuts, including the installation of streets with proper base and paving, curbs and sewers and alleys;
(B) An escrow deposit has been made with the City Secretary, such deposit being sufficient to pay for the cost of such improvements and being accompanied by an agreement signed by the developer and/or owner authorizing the city to make such improvements at prevailing private commercial rates, or to have the same made by a private contractor and pay for the same from the escrow deposit. Cost of such improvements is to be determined by the Zoning Administrator and computed on a private commercial rate basis. Should the developer and/or owner fail or refuse to install the required improvements within the time stated in such written agreement, the city shall in no case be obligated to make such improvements itself, except that such deposit may be used by the owner and/or developer as a progress payment as the work progresses by making certified requisition to the City Secretary when supported by evidence of work done; or
(C) The developer and/or owner files a corporate surety bond with the City Secretary in a sum equal to the cost of such improvements for the designated area, guaranteeing the installation thereof with the time stated in the bond, which time shall be fixed by the Zoning Administrator.
(Ord. passed 4-20-2000)