§ 1. General.


Latest version.
  • The subdivider shall be responsible for the provision of all required improvements to the subdivision. This may be accomplished by either the full installation of all required improvements by the developer at the time that the final plat is to be submitted to the planning commission or by the provision of a financial guarantee of performance.

    (1.1) Subdivision improvement bond. The guarantee of performance by the subdivider shall be in the form of a subdivision improvement bond and shall meet the following requirements:

    (a)

    Acceptance of bond. Bond must be approved by the governing body.

    (b)

    Value of bond. The bond should be of an amount sufficient to cover the total cost of installing all improvements, including grading, paving of the streets, and installation of all required utilities and fees encountered during execution of improvements.

    (1.2) Failure to complete work. If within twelve (12) months after filing said bond the subdivider has not completed all necessary improvements, or if in the opinion of the planning commission said improvements have not been satisfactorily installed, the bond shall be used by the city to complete the improvements in satisfactory fashion, or the city may take such steps as may be necessary to require performance under the bond.