(A) Except as provided elsewhere in this chapter, every application for a permit required by this subchapter, for which a bond is not on file, shall be accompanied by a faithful performance bond on a form approved by the City Attorney in a sum to be determined from time to time by resolution of the City Council or by state law, if applicable, for each well. Such bond shall be conditioned that the principal named in the bond shall faithfully comply with all of the provisions of this chapter. The bond shall secure the city against all costs, charges and expenses incurred by it by reason of the failure of the permittee to comply fully with the provisions of this chapter. The bond shall include a provision that the city be given written notice not less than 60 days prior to the cancellation or reduction in the coverage of the bond.
('64 Code, § 16-9)
(B) In lieu of filing the bond as required by division (A) of this section for each well, a blanket bond in an amount to be determined from time to time by resolution of the City Council or by state law, if applicable, to cover all operations under this chapter of a single permittee shall be filed. Riders to such blanket bond shall be filed with the city identifying each well to be covered by such blanket bond.
('64 Code, § 16-10)
(C) Each bond filed pursuant to this section shall be kept and maintained in full force and effect until terminated or superseded as provided in this chapter.
('64 Code, § 16-11)
(Ord. 512, passed 1-13-77)