A. Certificate Of Completion: When all improvement work required by the improvement plans, or a complete unit thereof, is completed to the satisfaction of the city engineer, then he shall issue a certificate to the city council stating that such a portion of the work has been satisfactorily completed and recommends the acceptance of the city council of the completed portion of work.
B. Bonds, Deposits, Guarantees Of Work:
1. Refund Of Unused Cash Deposits: Any unexpended cash deposits not required for completion of the work shall be refunded.
2. Private Improvements: In land developments in which the city council require that private improvements be completed to public standards, upon certification by the city staff that such private improvements have been completed to public standards, the city council may release that portion of the performance bond covering the private improvements.
3. Public And Private Bonds: A developer may post separate bonds for public and private improvements.
4. Defective Material And Workmanship Bond: As a condition precedent to the acceptance of improvements within a subdivision, the developer shall furnish a bond of surety company, cash deposit, letter of credit, time certificate or other security acceptable to the city, in an amount equal to ten percent (10%) of the total contract price to hold good for a period of one year after the completion of the work to protect the city against the results of defective materials, workmanship and the equipment during that time. This security shall be delivered to the city clerk before the final acceptance of the public improvements will be made by the city council. (1973 Code § 16.24.130)