Prior to an action by the Planning Board approving a subdivision
plat, the applicant shall be required to complete, in accordance with
the Planning Board's decision and to the satisfaction of the
appropriate Village departments, all the street, sanitary, and other
improvements specified in the action approving said plat or, as an
alternative, to file with the Village Board a bond in an amount estimated
by the Planning Board to secure to the Village the satisfactory construction
and installation of the uncompleted portion of the required improvements.
All required improvements shall be made by the applicant at his expense
without reimbursement by the Village.
The Village may employ an inspector to act as agent of the Planning
Board for the purposes of assuring the satisfactory completion of
improvements required by the Planning Board and shall determine an
amount sufficient to defray costs of inspection. The applicant shall
pay the Village costs of inspection before the subdivision plat is
signed for filing. If the Planning Board or its agent finds, upon
inspection, that any of the required improvements have not been constructed
in accordance with the approved drawings, the applicant and the bonding
company will be severally and jointly liable for the costs of completing
said improvements according to specifications.