No building permit, or any water, sewer, plumbing or electrical permit shall be issued by the city to the owner or any other person with respect to any property in any subdivision covered by this chapter and no certificate of occupancy will be valid until:
(1) Such time as the developer and/or owner has complied with the requirements of this chapter and the final plat regarding improvements with respect to the block facing the street and/or streets on which the property abuts, including the installation of streets with proper base and paving, all according to the specifications of the City of Oak Leaf; or
(2) An escrow deposit sufficient to pay for the cost of such improvements as determined by a registered professional engineer, for review and approval of the city engineer and/or mayor computed on a private commercial rate basis has been made with the city secretary accompanied by an agreement signed by the developer and/or owner authorizing the city to make such improvements at prevailing private commercial rates or have the same made by a private contractor and pay for the same out of the escrow deposit, should the developer and/or owner fail or refuse to install the required improvements within the time stated in such written agreement, but in no case shall the city be obligated to make such improvements itself. Such deposit may be used by the owner and/or developer as progress payments as the work progresses in making certified requisitions to the city secretary supported by evidence of work done; or
(3) The developer and/or owner files a corporate surety bond with the city secretary in a sum equal to the cost of such improvements for the designated area guaranteeing the installation thereof within the time stated in the bond, which time shall be fixed by the city council.
(Ordinance 0306 adopted 8/12/03)
