In lieu of the completion of any improvements
and utilities prior to the final approval of the plat, the Planning
Board may require a bond with a surety company satisfactory to the
Board as surety thereon, to secure to the Village the actual construction
and installation of such improvements or utilities at a time and according
to specifications approved by the Board.
[Added 1-21-1981 by L.L. No. 1-1981]
Prior to or at the time of the acceptance of
the dedication and the release of the performance bond, a surety company
bond or a certified check, made payable to the Village of Kings Point
in an amount determined by the Planning Board, shall be posted to
guarantee the maintenance, repair or replacement of any and all defects
which appear in the improvements installed by the applicant for a
minimum of two years from and after the acceptance by the Village
of a deed of dedication of the streets and other public areas shown
on the plat.
