The Building and Zoning Inspector shall issue the permit applied for upon receipt of the application, duly approved by the Planning Commission, and upon the furnishing of a bond by the applicant in the sum of one hundred thousand dollars ($100,000), in form and with surety approved by the Director of Law. Such bond shall be conditioned upon the faithful observance of all provisions of law or ordinance relating to drilling of an oil or gas well and further conditioned upon the permittee and his or its assigns restoring to their former condition the streets, sidewalks and other public places of the City which may be disturbed in the operation; clearing the area of all litter, machinery, derricks, buildings, oil and other substances used or permitted in the drilling or producing operation whenever the well is abandoned or the operation discontinued; paying to the owners of any buildings, improvements, goods or chattels located in the area any extra cost of insurance on such property imposed by reason of the granting of the permit in the operation carried thereunder, as well as any and all damages suffered by any person or corporation as to property in the City from fire, over and above the insurance collected thereon, or from oil, gas or water caused by or originating from the operation connected with such well; and holding the City free and harness from any and all liability incurred by the granting of such permit.
(Ord. 72-64. Passed 11-9-64.)