(a) No permit shall be granted by the governing body for the drilling of a well, or for the operation thereof, within the city limits, until the applicant shall have deposited with the city a good and sufficient bond in the amount of $10,000, conditioned that the applicant will comply with the provisions of this article.
(b) The above mentioned bond shall be restorative to the amount of $10,000 after each claim has been allowed and in addition to all other provisions of this article, said bond shall be in favor of and extend to all property damage claims that may arise and be unsettled by the permit holder after a period of 90 days has expired from the time written claim of owners of property within the city has been filed with said operator and the City Clerk and thereafter allowed by the governing body of the city.
(Charter Ord. 2, passed - -)