The subdivider shall provide one or more of the following financial guarantees set out in Sections 17.32.110 through 17.32.170 of this chapter as approved and accepted by the city council. The financial guarantee shall equal the amount of the projected cost of installing all required improvements as described in Section 17.32.040 of this chapter. The city council shall reduce bond requirements commensurate with the completion of improvements. (Ord. 588 § 1(part), 1996)