In lieu of any dedication required by the provisions of this article, an owner, subject to the discretion of the officer, board, or agency authorized to accept such dedication, may enter into an agreement with the City to dedicate. Such agreement shall be signed by all the persons having any right, title, interest, or lien in the property, or any portion thereof, to be dedicated. The signatures on such agreement shall be acknowledged, and the agreement shall be prepared for recordation.
In lieu of any improvement required by the provisions of this article, the officer, board, or agency authorized or required to accept such improvement, in his or its discretion, may enter into an agreement with the owner. Such agreement shall be secured by cash, or a surety bond approved by the City Attorney, guaranteeing the installation of such improvements.
(Ord. 159, § 74.09)