In general, the subdivider or developer shall be required to construct at his expense, all streets, alleys, sidewalks, crosswalks, street markers, sanitary sewers, sewage lift stations or other sewage facilities, water mains, and water systems, drainage culverts, storm sewers, bridges, streetlights and other appurtenances in strict accordance with article 10.05 of this chapter, necessary and required to adequately serve the subdivision or addition to be developed by him.
(1999 Code, sec. 9.601)
All streets, utilities and other appurtenances constructed by the developer shall become the property of the city upon completion and acceptance by the city engineer and city council.
(1999 Code, sec. 9.602)
Upon the passage of this chapter, it will be the policy of the city to assist the developer in recovering the cost of construction of such facilities where sizes and capacities of facilities are required to service urban development of a larger area than that being subdivided or areas extending beyond the limits of the proposed subdivision to the extent hereinafter set forth; but the city reserves the right to consider each facility on its own merits.
(1999 Code, sec. 9.603)
No final plat shall be authorized by the city to be recorded, nor shall any building permit, or any water, sewer, plumbing, electrical permit or other city permit, including a certificate of occupancy be issued by the city to the owner or any other person with respect to any property in any subdivision:
(1) 
Until the developer or owner has completed all required public improvements and the public improvements have been accepted for maintenance by the city with the required maintenance bond(s); or
(2) 
The developer or owner has placed with the city the funds to guarantee construction in the form of cash, cashier's check, surety bond, subdivision performance bond, letter of credit or other type of depository agreement approved by the city attorney. The duration of the performance guarantee shall equal the length of time estimated to be necessary for the completion of all required public improvements. If the required public improvements are not completed by the expiration date of the guarantee, the city may require cash payment by the developer, owner or surety or may require an extension of the guarantee for a specific period of time.
(A) 
Should the owner or developer post cash or a cashier's check as a guarantee, the amount shall be an amount equal to 100% of the cost for the installation of the public improvements along with an agreement unconditionally guaranteeing installation of the public improvements.
(B) 
Should the owner or developer post a letter of credit or other form of depository agreement as a guarantee the letter of credit shall be: (i) in an amount equal to 100% of the cost for the installation of the public improvements unconditionally guaranteeing installation of the public improvements; (ii) irrevocable; (iii) for a term sufficient to cover the completion, maintenance and warranty periods but in no event less than two (2) years; and (iv) require only that the city present the issuer with a sight draft and a certificate signed by an authorized representative of the city certifying to the city's right to draw funds under the letter of credit. An owner or developer wishing to take advantage of this exception shall pay to the city a nonrefundable fee in the amount provided in appendix A to this code.
(C) 
Should the owner or developer post a surety bond or subdivision performance bond the bond shall be: (i) executed by a surety company licensed to do business in the state; (ii) payable to the city; (iii) approved by the city in an amount equal to 125% of the cost of the installation; and (iv) unconditionally guaranteeing installation of the public improvements; or
(3) 
The city has entered into an interlocal agreement with a governmental entity that will construct and maintain the public improvements or accept the dedication of public improvements that requires the governmental entity to require performance, payment and maintenance bonds in the amount of the cost of the installation of the public improvements.
(Ordinance 2595, sec. I, adopted 10/28/13; Ordinance adopting Code)