The subdivider may furnish a surety bond to the Village in the amount of the estimated cost of the improvement, plus 15%. Said bond is to authorize the Village to make the improvements if the subdivider has not had them completed within a specified time and shall obligate the surety to pay to the Village the cost of making such improvements up to the extent of the amount of the bond.
(Ord. 2013-01. Passed 2-5-13.)