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18.36.132. Subdivision guarantee
Security shall be in the form of a cash payment in escrow equal to an amount approved by the construction staff. Such escrow shall be maintained for a minimum period of one (1) year following the initial acceptance of the subdivision improvements and in accordance with the terms of the developer's agreement. No funds shall be disbursed from the escrow account without the written consent of the City. The developer shall also deposit with the City, an amount equal to the estimated cost for chip and seal of all streets within the subdivision. All estimated costs shall be approved by the City Engineer. Chip and seal completion shall be the responsibility of the City.
Ord. No.97-35, Recodified, 6/19/1997