(a) Upon the approval of City Council of a drilling unit authorization permit, the Superintendent of Building and Zoning Inspection shall issue the permit applied for. However, prior to the issuance, the City shall be provided with a policy or certificate of insurance covering the applicant's liability in an amount of not less than five hundred thousand dollars ($500,000) property damage and not less than one million dollars ($1,000,000) personal injury, the amount to be set by the City Council. The insurance policy or policies must be maintained for such a period of time as drilling is in progress, 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 such policies may be rejected by the Solicitor for any valid reason. The rejection of the insurance policy by the City shall serve to stay the granting of a permit theretofore approved by it until such time as an insurance policy providing coverage entirely satisfactory to the City has been provided by the applicant.
(b) All insurance policies shall include coverage for all items specified in this chapter, including coverage resulting from, blowout and cratering.
(c) The permittee shall hold the City of South Euclid harmless from all liability resulting from the granting of a permit pursuant to this chapter.
(Ord. 37-04. Passed 5-24-04.)