No person, firm or corporation shall, within the limits of the City, drill a new oil or gas well, drill an existing oil or gas well any deeper, reopen an oil or gas well, convert an oil or gas well to any use other than its original purpose, or plug back an oil or gas well to a source of supply different from the existing pool, until such person, firm or corporation executes and files with the Director of Public Service and Safety a surety bond. The bond shall be in an amount not less than twenty five thousand dollars ($25,000), conditioned on compliance with Section 731.06
and all other requirements of this chapter.
Each surety bond provided for in this section shall be executed by a surety company authorized to do business in the State. Any such bond shall be personally signed and acknowledged by both principal and surety, or as to either by his attorney in fact, with a certified copy of the power of attorney attached thereto. Any such bond shall run to the City as obligee.
The bond shall remain in effect for a period of one year, renewable January 1st of each year, or until all oil wells covered under the bond have been plugged and abandoned in accordance with law and the site thereof properly restored.
(Ord. 10175/90. Passed 10-24-90.)