§ 16-292. Surety bond or cash.

Every subdivision developer shall agree to guarantee the accomplishment of the following:

(1)

To grade and improve as hereinafter specified all streets and alleys; install curbs, gutters, monuments, sanitary sewers, storm drains, water supply, electrical service, gas service, and street name markers in conformance with this article.

(2)

To maintain all of the same for a period of one year from date of acceptance of said subdivision, and to post a bond by a reputable surety company licensed to do business in the state, or cash in an amount of not less than $5,000.00, for subdivisions of not in excess of 40 lots, and an additional sum of $1,000.00 for each five lots thereafter, to ensure one year of maintenance of all facilities.

(Land Development Code 1995, § 2.03.18(intro.))