A. Each operator as herein defined shall post a faithful performance bond or bond rider for all operations under this chapter including but not limited to: drilling, redrilling, servicing, maintenance of oil field sites, pipelines and appurtenant facilities, landscaping, tanks, fences.
This faithful performance bond shall be in addition to any public works improvement bonds required by other provisions of the municipal code or statute of the state of California.
B. Bonds existing on the effective date of the ordinance codified in this title which are in compliance with the previous Signal Hill Oil Code shall remain in effect according to their terms, and need not be raised to the bond amount contained in Section 16.12.200.
C. Cash deposits or certificates of deposit may be accepted in lieu of required bonds if provided in a form satisfactory to the city attorney and the finance director.
(Ord. 90-08-1074 § 4 (part))