However, no plat shall be finally approved unless the streets on
such plat have been improved as may be required by ordinance, and
any walkways, curbs, gutters, streetlights, fire hydrants, shade trees,
landscaping, water mains, sanitary sewers, storm sewers, stormwater
management facilities, and other site improvements as may be required
by this chapter and any applicable municipal requirements have been
installed in accordance with such requirements. In lieu of the completion
of any site improvements required as a condition for the final approval
of a plat, a financial security shall be deposited by the subdivider/developer
with the municipality and/or county in an amount to cover the costs
of any site improvements which may be required by ordinance. Such
financial security shall provide for and secure to the public, the
completion of any site improvements which may be required for the
subdivision or land development.