he Bond or an Irrev­o­ca­ble Let­ter of Cred­it shall remain in effect until such time as the Coun­ty Clerk shall, by writ­ten autho­riza­tion to the Coun­ty Trea­sur­er, release the sure­ty from the oblig­a­tion of the bond, which release may be par­tial and may occur from time to time, as improve­ments are com­plet­ed and approved; pro­vid­ed, however:

(A) Autho­riza­tion to release up to nine­ty per­cent (90%) of the bond amount or the Irrev­o­ca­ble Let­ter of Cred­it may be autho­rized by the­Coun­ty­Clerk upon writ­ten noti­fi­ca­tion from the Coun­ty Engi­neer.  Such autho­riza­tion by the­Coun­tyEngi­neer shall only be giv­en as improve­ments are installed equal in val­ue to funds released.

(B) The remain­ing ten per­cent (10%) may only be released when the­Coun­tyEngi­neer noti­fies the Zon­ing Offi­cer, in writ­ing, that all improve­ments have been com­plet­ed in a sat­is­fac­to­ry man­ner.  The Admin­is­tra­tive Offi­cer shall then noti­fy the Coun­ty Clerk that autho­riza­tion may be giv­en to release all funds. When­ev­er improve­ments are to be ded­i­cat­ed to anoth­er author­i­ty, school dis­trict, road dis­trict, park or oth­er gov­ern­ment, such improve­ments shall be accept­ed or approved before the release of all funds.