Before an application for a permit is granted, the Fiscal Officer shall be provided with a policy of or certificate of insurance, covering the applicant's liability for property damage in the amount of not less than three hundred thousand dollars ($300,000) and the applicant's liability for personal injury in an amount of not less than three hundred thousand dollars ($300,000). The insurance policy or policies must be maintained for such period of time as drilling is in process, the well is in operation or is producing oil and/or gas or until such well is pulled and plugged. The insurance policies and the coverages thereunder must be to the complete satisfaction of the Municipality and such policies may be rejected by the Municipality for any valid reason. Rejection of the policies shall serve to stay the granting of a permit until such time as an insurance policy providing coverage entirely satisfactory to the Municipality has been provided by the applicant.
(Ord. 586. Passed 4-6-64.)
(Ord. 586. Passed 4-6-64.)