(A) Where a subdivider, developer, or builder plans for the development of a subdivision within the corporate limits of the village, the subdivider, developer, or builder shall before submitting the final plat for approval, make and submit provisions for installation and construction required by §§ 152.020 through 152.040 to the Village Engineer and after the Village Engineer's review and approval, submit provisions to the President and Board of Trustees of the village for their approval.
(B) When all land improvements required by this chapter have been installed in conformance with the approved engineering plans and specifications, and when “as built” plans and operating permits for sanitary sewer and water main have been submitted to the Public Works Department, the Village Engineer shall submit a certificate to that effect to the Village Board. The Village Board may then enact a resolution accepting said improvements as having been completed before issuance of certificate of occupancy.
(C) Upon acceptance by the Village Board of the public improvements required by this chapter, the Village Board, with the recommendation of the Village Engineer and Supt. of Public Works, shall permit the release of those funds deposited to cover public improvements which has been installed, except that 5% of the total cost of all public improvements or $2,000, whichever is greater, shall be retained by the village for 12 months after final acceptance of the improvements by the village. Any latent defect which occurs in the installed public improvements will be repaired by the village and the cost thereof deducted from the cash deposit made with the village as provided herein. Funds remaining after 12 months shall be released upon approval of the Village Board.
(D) All improvements, when completed and accepted by the appropriate authority, shall become the property of the village or appropriate authority.
(Ord. 1995-0-25, passed 12-26-95)