717.04 INSURANCE REQUIRED.

   Before an application for a permit is granted, the Director of Public Service and Safety shall be provided with a policy or certificate of insurance covering the applicant's liability for property damage in an amount not less than three hundred thousand dollars ($300,000) and the applicant's liability for personal injury in an amount not less than three hundred thousand dollars ($300,000). Such insurance policies must be maintained for such period of time as drilling is in process, the well is in operation or is producing oil or gas or until the well is pulled and plugged as hereinafter provided. The insurance policies and the coverages thereunder must be to the complete satisfaction of the City and the policies may be rejected by the City for any valid reason. Such rejection of the insurance policies shall serve to stay the granting of a permit until such time as an insurance policy providing coverage entirely satisfactory to the City has been provided by the applicant.

(Ord. 64-7. Passed 4-21-64.)