(A) The Planning Commission may require that the applicant for a conditional use furnish to the city a performance bond, refundable cash deposit, letter of credit from an accredited and FDIC insured financial institution, or other surety as approved by the Planning Commission not to exceed the value of the cost of the required improvements in order to assure that the conditions imposed are completed in accordance with the plans and specifications as approved by the Planning Commission and that the standards established in granting the conditional use are observed.

(B) All such types of sureties will name the city as the sole owner. If all conditions are met as set forth by the Planning Commission, then and only then will all such sureties revert back in ownership to the applicant(s). (Ord. 80-2, passed 06/14/2010)