The acceptance of a final plat, bond, letter of credit, or cash escrow by the city does not in any manner obligate the city to finance or furnish any storm sewers, drainage structures, street, water or wastewater improvements or any other improvements within the approved subdivision, except under the provisions provided herein. The city may in its discretion, but shall not be required to, use any bond, letter of credit, or cash escrow deposit provided or made for a subdivision to complete all or any part of the utilities, streets, drainage or other improvements in the subdivision for which the final plat was recorded. Further, if insufficient bond, escrow or letter of credit funding is available to complete all the required improvements within the subdivision, the city may use any such funds to complete only certain improvements selected in the sole discretion of the city council.
(Ordinance 296, art. II, § 13, adopted 10/1/1996; Ordinance 439, art. II, § 11, adopted 11/24/2003; Ordinance 739, § 2(Exh. A), adopted 8/20/2013)