(a) In connection with subdivision or platting controls, the Board of Commissioners may require the improvement and grading of streets and the construction and installation of street pavements, curbs, gutters, sidewalks, and water, sewer, surface water drainage and other utility mains as a condition precedent to approval of the plat. The requirements may provide for tentative approval of the plat previous to such improvement and installation, but any such tentative approval shall not be entered on the plat. The requirements may provide that in lieu of completion of the work and installations prior to final approval of the plat, the Board may accept a bond, in an amount and with surety and condition satisfactory to it providing for and securing to the Town the actual construction and installation of the improvements and utilities within a period specified by the Board and expressed in the bond. The Town is empowered to enforce the bond by all appropriate legal and equitable remedies. Requirements adopted hereunder may be applied throughout the area over which the Town is authorized by law to exercise platting or subdivision controls.
(b) The requirements may provide, in lieu of the completion prior to the final approval of a plat of such work and installation on land within the area over which the Town is authorized by law to exercise platting or subdivision control, for an assessment under this Charter or under Article 8, Chapter 160D of the General Statutes or other statutory authorization whereby the Town may do the work and make the installations at the cost of the owners of the property within the subdivision.
(Session Laws of 1973, Chapter 386) (Ord. 2004-45, passed 4-4-2004)