(A) Bond required; amount. Before any permit shall be issued, the applicant therefor shall first furnish a bond covering the drilling and operation of such well, running to the city, for the use and benefit of persons injured or property damaged, to the effect that the applicant will pay and discharge any liability for damage to such property or injured persons, such bond to be in the amount of not less than $20,000.
(B) Term of bond. The bond shall be for a term of one year, but may be canceled if the well drilled is plugged within less time than one year, and the slush pits, sump pits, and cellars are leveled up and premises put in good condition, as hereinafter set out.
(C) Blanket bond. Should any applicant determine to drill a number of wells within the city, a blanket bond may be furnished to cover the drilling and operation of all of such wells, in the total amount of $40,000.
(Prior Code, § 9-10-4)