(A) No permit for the drilling or putting down of any well shall be issued until the applicant shall have procured public liability insurance in an amount of not less than $15,000, and property damage insurance in an amount of not less than $20,000 and filed certificates showing that the insurance has been obtained and is in force with the City Clerk, with each application. No permit shall be issued to drill a well or lay a pipe line until the applicant shall have filed with the City Clerk a bond running to the city in a penal sum of not less than $5,000, conditioned that the applicant shall abide by and comply with all of the provisions of this chapter and shall save and keep harmless the city against any claims and demands of any nature whatsoever that may be made against it rising out of the operations of the applicant, and that the permittee will in all respects comply with the provisions of this chapter.
(B) All bonds shall be signed by surety by a bonding or indemnity company authorized to do business in the state and shall be approved by the Mayor or City Clerk. All bonds shall be kept in full force and effect during the operations of the permittee and certificates showing that the insurance is in effect shall be kept on file with the City Clerk.
(C) All bonds required by this or any other section of this chapter shall be kept constantly in force by the party required to furnish the same. A failure so to do shall be ground for suspension of the rights under this chapter of the person under obligation to furnish the same, until the bond requirements are met by the person.
(1986 Code, § 11.24.050) (Ord. 511, passed 8-19-1941)