Ord 1980-041 - Laserfiche WebLink

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monuments and lot markers have been properly located and placed in accordance with this Ordinance as applicable. (4) A reproduceable tracing and one copy of the final plat, together with one reporduceable set of construction plans, shall be delivered to the Director of Public Works. One reproduceable set of as-built construction plans are required if completion of construction improvements precedes recorda- tion of final plat. In all cases a reproduceable set of as-built construction plans will be required. I (5) The subdivider shall provide the City with sufficient evidence that he holds fee simple title to the prope~ty being subdivided. (6) The subdivider shall provide dedication of all streets, alleys, parks, easements and other land intended for public use, signed by the owner or owners and by all other persons, firms, or corporations owning an interest in the property subdivided and platted, which shall be acknowledged in the manner prescribed by the laws of the State of Texas for conveyance of real property, shall be submitted and attached to or placed in the final plat in accordance with the provi- sions in Section E, 1, d, (8) of this Article. (7) If the subdivider chooses to file security in lieu of completing construction prior to recordation of the final plat, he may utilize one of the following methods of posting security. If the subdivider chooses to file security, the plat shall not be recorded unless the subdivider has one of the following: I (a) Performance Bond - Has filed with the Planning and Zoning Commission a bond executed by a surety company holding a license to do business in the State of Texas, and acceptable to the City, on the form provided by the City, in an amount equal to the cost of the improvements required by this Ordinance, and within the time for completion of the improvements as estimated by the Director of Public Works. The performance bond shall be approved as to form and legality by the City Attorney. (b) Trust Agreement - Has placed on deposit in a bank or trust company, in the name of the City and approved by the City, in a trust account a sum of money equal to one hundred twenty-five (125) percent of the estimated cost of all site improvements as required by this Ordinance, the cost and time of completion as estimated by the Director of Public Works. The selection of the trustee shall be subject to approval by the City of San Marcos, and the trust agreement shall be executed on the form provided by the City and approved as to form and legality by the City Attorney. Periodic withdrawals may be made from the trust account for a progressive payment of installation costs. The amounts of such withdrawals shall be based upon progress and work -27-