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Before any permit shall be issued under the provisions of this subchapter, the applicant therefor shall first post with the city, at his own expense, a public liability insurance certificate or bond issue by some reputable insurance company or surety company authorized to do business in the state, covering all such applicant’s operations within the city in bodily injury limits of not less than $100,000 for each person and $300,000 for each accident, and property damage limits of not less than $100,000 for each accident. Any such indemnity bond shall be conditioned for the payment of damages on account of injuries to property, public or private, and bodily injuries or death to any person resulting from the drilling, operation, or maintenance of the oil or gas well, or any structure pertinent thereto. Such coverage shall also include protection for the acts of independent contractors of applicant for let or sublet. The public liability insurance required by this section shall be carried in companies acceptable to the city. The insurance shall be continued in force so long as the applicant remains engaged in operations for drilling or production of oil and gas within the city.
(‘68 Code, § 23-24) (Ord. 1112, passed 1-18-65)