(A) No person shall drill, operate or maintain any oil, gas or disposal well within the city unless there is on file with the City Clerk a certificate of insurance, issued by some corporate insurer licensed to do business in the state, evidencing current insurance coverage for the owner of such well and his or her driller, agents and employees, conditioned for the payment of all damages due to injury to persons or damage to property resulting from the drilling, operation or maintenance of the well or any structure, machinery, pipeline or appurtenance used in connection therewith. Such coverage shall be in an amount not less than $500,000.
(B) No person shall drill, operate or maintain any oil, gas or disposal well within the city unless there is on file with the City Clerk, in addition to the insurance certificate required by division (A) above, a bond in full force and effect with minimum limits of $2,000 and with corporate surety by some insurer licensed to do business in the state, conditioned to assure compliance by the owner and his or her driller, agents and employees with all requirements of this chapter.
(Prior Code, § 5-705) Penalty, see § 155.99