Prior to the issuance of a drilling permit for an oil and/or gas well, each applicant shall deposit with the City of South Euclid a performance bond conditional upon compliance with all provisions of this chapter. The amount of the bond, not less than five thousand dollars ($5,000.00), plus twenty dollars ($20.00) for each foot of roadway, will be set by the City Council upon issuance of the drilling unit authorization. The bond will be held by the City until the well is abandoned and all equipment is removed and the well is sealed. The bond shall not only be conditional upon compliance by the applicant, but also upon compliance with this chapter by any assignee and owner of any permit granted hereunder, or any employee, contractor, subcontractor or other party performing services in connection with any permit issued hereunder. The bond shall be released when wells and tank batteries have been removed and premises have been restored to pre-drilling conditions as determined by the Superintendent of Building and Zoning Inspection.
(Ord. 37-04. Passed 5-24-04.)