No permit for the drilling of any well shall be issued until the applicant has filed with the City Clerk a good and sufficient bond and proof of insurance coverage, such bond to be executed by, and the insurance to be held with, a bonding, indemnity or insurance company authorized to do business within the State, with such bond to run in the name of the City and conditioned on the applicant's drilling the well in conformity with the provisions of this section, the statutes of the State and the rules and regulations of the State Geologist. The amount of such bond shall be thirty thousand dollars ($30,000) and it shall be kept in force at all times during the drilling operations. The applicant shall also file with the Clerk a certificate of insurance showing that such applicant has purchased liability insurance in the principal sum of not less than one hundred fifty thousand dollars ($150,000) covering any liability imposed by law or damages on account of injury to property, either private or public, or bodily injury, including death, received or suffered by any person and resulting from the drilling operation or maintenance of such well or any structure, machinery, equipment or tank connected therewith. Such insurance shall be approved by Council and shall be kept in full force and effect so long as operations are pursued on the well site and so long as production is being obtained therefrom. Any permit shall expire when, at any time, the well is not covered by a bond or insurance as herein required.
Proof of insurance as referred to herein shall be made by filing with the City Clerk insurance certificates in each case by a representative of an insurance company authorized to do business in the State. Each of the certificates shall certify as to the amount and kind of insurance the applicant has in force with the company and it shall state that if the policy is cancelled or amended ten days written notice thereof shall be given to the City.
(Ord. 907. Passed 9-26-77.)