(a) At the time of filing the petition or at any time prior to the time of hearing on said petition, a bond shall be filed, with security approved by the city council, or a cash deposit made sufficient to pay all expenses connected with the proceedings in case the creation of the area is not effected. If at any time during the creation proceedings the city council is satisfied that the bond first executed or the amount of cash deposited is insufficient in amount, it may require the execution of an additional bond or the deposit of additional cash within a time to be fixed, not less than ten days thereafter, and, upon failure of the petitioners to file or deposit the same, the petition shall be dismissed.

(b) The city council may waive the requirement for the filing of a bond or making of a cash deposit upon a showing of good cause by the petitioners. (Ord. No. 2011-15, § 1, 7-11-2011)