Prior to final approval of the Planning Board of the Town of Onondaga of any proposed tract map, a subdivider shall, in addition to all other matters or materials required to be presented or filed, also file with the Town of Onondaga Town Board the following items in form and amount satisfactory to said Town Board and its representatives:
A.
A street and utility construction agreement with offers of cession covering the streets and utilities shown on said plat, together with certificates of insurance and, unless waived either in whole or in part by the Town Board, a construction guaranty agreement with such security (cash or equivalent, or performance bond) as may be required by said Town Board.