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A subdivision shall be governed by the terms of approval of the final plat, and the statutes, ordinances, and regulations in effect at the time of approval pursuant to RCW 58.17.150(1) and (3) for a period of five years after final plat approval unless the council finds that a change in conditions creates a serious threat to the public health or safety in the subdivision. Any lots in a final plat filed for record shall be a valid land use notwithstanding any change in zoning laws for a period of five years from the date of filing. In the event the developer has elected to proceed to post a bond or other security approved by the city attorney in lieu of completion of plat improvements in order to obtain final plat approval, building permits may issue for buildings within the plat, but no certificates of occupancy will issue until all plat improvements are constructed, approved and a maintenance bond posted for those improvements. (Ord. 393 § 1, 2007)