(1) Public rights-of-way must be improved and utilities installed to the minimum requirements of this code and City standards.

(2) Required infrastructure improvements must be substantially completed as approved by the City Engineer. Minor improvements consisting only of sidewalks and landscaping where applicable, or similar improvements, may be secured by a plat bond.

(3) In lieu of completion of these minor improvements, prior to recording of the short plat, a plat bond issued by a licensed corporate surety or two individual sureties or other approved surety must be provided, to the full amount of the cost of such work, as estimated by the City Engineer, including construction inspection costs, but in no case less than $2,000.

(4) All or a portion of security will be released upon acceptance of the improvements by the City Engineer, or upon substitution of another guarantee or approved bond or security.

(5) If, after two years, all improvements are not so improved, the City will cause the improvements to be provided in accord with the approved plans, and the costs thereof must be paid by the bonding company, or out of the savings account assignment or other security.

(6) In lieu of the plat bond, a cash bond, a certified check, an irrevocable letter of credit, or other surety approved by the City Attorney, equal to the cost of improvement multiplied by 125 percent, may be posted. In addition, the City may require security up to two years against any defect in workmanship or materials in the installation of the improvements. [Ord. 4424 § 5, 2019; Code 1970 § 26.36.095.]