§ 66-151. Installation of improvements, improvements guarantees.

Before the final plat is signed by the city council, all applicants shall be required to complete or produce improvement guarantees for all improvements as required in this chapter:

(1)

Completion of improvements. The building inspector must certify that all improvements required by the city have been satisfactorily installed or the installation guaranteed.

(2)

Improvement guarantees. The subdivider shall provide improvement guarantees at the time of application for final plat approval. Such guarantee amount shall be determined by the city council for the assurance of the satisfactory construction, installation, and dedication of the incompleted portion of improvements. Improvement guarantees may take the form of either a bond, letter of credit or a certified check. Guarantees shall be structured to permit periodic demands for payment from the issuer in whole or in part for the entire amount of the credit. All checks will be cashed and held in interest bearing accounts with interest accruing to the city. No check accepted as a guarantee will be held. Such improvement guarantees shall be approved by the city council as to amount and surety. The guarantee shall be released only after the city has accepted the work.

(3)

Costs of improvements. All required improvements shall be made by the subdivider, at his expense, without reimbursement by the city or by any improvements district therein.

(4)

Failure to complete improvements. In those instances where an improvement guarantee has been posed and required improvements have not been installed within the terms of such guarantees, the city shall call the improvement due and collect all funds or require that all improvements be immediately installed regardless of the extent of the building development at the time the improvement guarantee is declared to be in default. If the city engineer finds upon inspection that any of the required improvements have not been constructed in accordance with the city's construction standard and specifications, the subdivider shall be responsible for removing any defects and completing the improvements or forfeiting the guarantee.

(5)

Acceptance of dedication offers. Acceptance of formal offers of dedication of streets, public area, easements, and parks shall be by act of the city council. The approval by the city council of a subdivision plat shall not be deemed to constitute or imply the acceptance by the city or any street, easement, or park shown on such plat.

(Ord. of 6-20-1989, § 6.1)