Before an application for a permit is granted, the Safety-Service Director shall be provided with a policy of, or a certificate of insurance covering the applicant's liability for property damage in an amount of not less than three hundred thousand dollars ($300,000) and liability for personal injury in an amount of not less than three hundred thousand dollars ($300,000). Such insurance policy or policies must be maintained for such period of time as drilling is in progress, the well is in operation or is producing oil and/or gas, or is pulled or plugged as hereinafter provided. The insurance policies and the coverage thereunder must be to the complete satisfaction of the Municipality and no permit will be issued until such time as an insurance policy providing coverage entirely satisfactory to the Municipality has been provided by the applicant.
(Ord. 433. Passed 8-17-64.)