Prior to the issue of building permits or zoning certification, the applicant may be required to post performance bond(s) or letter of credit pursuant to and in accordance with the same procedures as provided for in § 7-730 of the New York State Village Law, in sufficient amounts and duration to assure that all street or other public places shown on the site plan shall be suitably graded and paved and that street signs, sidewalks, streetlighting standards, curbs, gutters, street trees, water mains, fire alarm signal devices, including necessary ducts and cables or other connecting facilities, sanitary sewers and storm drains or other improvements shall all be installed in accordance with standards, specifications and procedure acceptable to the appropriate village departments.