Prior to the issuance of a drilling permit for an oil and/or gas well, each applicant shall deposit with the City a performance bond conditional upon compliance with all provisions of this chapter. The amount of the bond shall not be less than $5,000, plus $20 for each foot of roadway, and will be determined by Council upon issuance of the drilling unit authorization. The bond will be held by the City until the well is abandoned, all equipment is removed and the well is plugged and sealed. The bond shall not only be conditional upon compliance by the applicant, but also upon compliance with this chapter by any assignee and owner of any permit granted hereunder, or any employee, contractor, subcontractor or other party performing services in connection with any permit issued hereunder. The bond shall be released when wells and tank batteries have been removed and premises have been restored to pre-drilling conditions as determined by the Community Development Administrator.
(Ord. 2635. Passed 1-13-11; Ord. 3040. Passed 12- 13-18.)