Ordinances-1991-173

(2) A certificate bearing the approval of the city engineer stating that the improvements and installations in the subdivision have not been installed in accordance with the city specifications and that the preliminary plans for the construction of such improvements have been submitted and that the owner has executed an agreement as a covenant running with the land that no building permit shall be issued for any lot of such subdivision until such improvements, with the exception of sidewalks, shall be constructed for such lot or the owner shall have deposited in escrow with the city clerk an amount equal to the cost of such improvements plus ten (10) percent thereof for the lot, or (3) A surety bond with the city which will insure to the city that the improvements will be completed by the subdivider or property owner within two (2) years after official acceptance of the plat. The form and type of bond shall be approved by the city attorney and the amount of the bond shall not be less than the amount of the estimated cost of the improvements plus ten (10) percent, and the amount of the estimate must be approved by the city engineer. If the improvements are not completed within the specified time, the council may use the bond or any necessary portion thereof to complete the same, or, if option (2) or this option (3) is chosen, the final plat shall state that the developer, its grantees, assignees, and successors in interest agree that public services including, but not limited to, street maintenance, snow and ice removal, rubbish, refuse, and garbage collection, will not be extended to such subdivision until the pavement is completed and accepted by the city. Alternatives 1 through 3 of this subparagraph h shall be exclusive, and no subdivision shall be approved unless one of the foregoing alternatives has been approved and no subdivision shall be approved in which the developer proposes to request that the