All sanitary sewers and extensions to sanitary sewers constructed
at the applicant's expense, after final approval and acceptance by
the Superintendent, and concurrence by the Village Board, shall become
the property of the Village, and shall thereafter be operated and
maintained by the Village. No sanitary sewer shall be accepted by
the Village until four copies of as-built drawings have been so filed
with the Superintendent and the Superintendent has approved the submitted
drawings. Said sewers, after their acceptance by the Village, shall
be guaranteed against defects in materials or workmanship for one
year, by the applicant. The guarantee shall be in such form and contain
such provision as deemed necessary by the Village Board, secured by
a surety bond or such other security as the Village Board may approve.