(A) Any application for an oil and gas permit for the drilling of any oil and gas well or related equipment (for example gathering system) shall post with the City Clerk a certificate of insurance with and running to the city which has been executed by a company authorized to do business in the state showing that such company will pay and discharge any liability imposed by law for damages to public or private property and bodily injury, including death, in the following amounts and conditions:
(1) Bodily injury per person in the minimum amount of $5,000,000;
(2) Property damage per occurrence, including, but not limited to, underground damage, explosion, collapse, blowout, contamination, pollution, and cratering in the minimum amount of $2,500,000; and
(3) Annual aggregate property damage in the minimum amount of $2,500,000.
(B) The applicant shall maintain a current certificate during the term of any production.
(Prior Code, § 113.014) (Ord. 1583, passed 1-8-2008)