Should the council determine that the cost of the main extension should be paid in whole or in part by the applicant, the council may, in lieu of requiring the applicant to deposit the cost of the main extension with the city, enter into an agreement with the applicant whereby the applicant undertakes to provide for the installation of the facilities comprising the public main extension in accordance with the plans and specifications approved by the council and subject to inspection by the city. In such event, the council may require the applicant to post a surety bond, cash, or other improvement security with the city to guarantee the satisfactory completion of the main extension in accordance with the plans and specifications approved by the council. [Ord. 910 Art. 5, § 9, 2016; Ord. 878 Art. 5, § 9, 2015.]