Street lighting agreements and bonds for subdivisions

(a) Notwithstanding any ordinance or regulation to the contrary, final approval of a subdivider’s final subdivision map must not be given unless: (1) In the case where final approval is sought under § 6-602(a) of the subdivision rules of the city, after completion of the construction of the required improvements and utilities in accordance with the rules, the subdivider enters into an agreement with the city, wherein the subdivider agrees to pay for all costs of energizing the street lighting system and of the maintenance of such system when the first home in the subdivision is occupied until the subdivision roadways, together with the street improvements, are dedicated to and accepted by the city. Simultaneously with such agreement, the subdivider shall file a surety bond (other than personal surety) with the city as obligee, conditioned upon the faithful performance of the agreement. (2) In the case where final approval is sought under § 6-602(b) of the subdivision rules of the city, the agreement referred to therein must contain a covenant wherein the subdivider agrees to pay for all costs of energizing the street lighting system when the first home in the subdivision is occupied until the subdivision roadways, together with the street improvements, are dedicated to and accepted by the city. To assure the performance of the covenant, the subdivider shall file a surety bond (other than personal surety) with the city as obligee, conditioned upon the faithful performance thereof. The surety bond must be in addition to any other security required under § 6-602(b) of the subdivision rules of the city. The surety bonds specified in subdivisions (1) and (2) hereinabove must be in an amount sufficient to cover the costs of energizing the street lighting system and of the maintenance of the system from the time of installation until the subdivision roadways, together with the street improvements, are dedicated to and accepted by the city. The amount must be based on estimates of the director, or the director’s authorized subordinate. The form of the agreements and surety bonds specified in subdivisions (1) and (2) hereinabove must be referred to the corporation counsel for approval as to form and legality. The agreements and surety bonds, fully executed, must be filed with the director of planning and permitting. (b) Notwithstanding any ordinance, rule, or regulation to the contrary, a subdivider or subdivider’s surety may not be discharged from the obligation of any bond required under this section until the subdivision roadways, together with the street improvements, are dedicated to and accepted by the city. )