A two (2) year maintenance bond or alternative security is required to be submitted to the City in the amount of fifty percent (50%) of the cost of the municipal improvements to be accepted; which bond or alternative security shall be as approved by the City Attorney prior to acceptance of municipal improvements. If the cost of the municipal improvements is less than the amount of a street and utility construction bond or performance bond that has been provided for the municipal improvements, and that street and utility construction bond or performance bond provides for two (2) year maintenance of the improvements being accepted, an additional two (2) year maintenance bond or alternative security will not be required prior to acceptance of the project. (Ord. 2576, 7/27/10; Ord. 2390, 4/22/08)