Bond for completion of subdivision work--Remedies for enforcement of bond

Subdivision regulations may provide that, in lieu of the completion of such work and installations previous to the final approval of a plat, the council may accept a bond, in an amount and with surety and conditions satisfactory to it, providing for and securing to the municipality the actual construction and installation of such improvements and utilities within a period specified by the council and expressed in the bond; and the municipality is hereby granted the power to enforce such bonds by all appropriate legal and equitable remedies. Source: SL 1949, ch 198 , § 12; SDC Supp 1960, § 45.3312; SL 1966, ch 145 .