(A) In the event a permit be issued by the Common Council under the terms of this chapter for the drilling and operation of a well, no actual drilling operations shall be commenced until the permittee shall file with the City Clerk a bond and certificate of insurance, as follows.
(1) A bond in the principal sum of such number of dollars as has been so determined by the Common Council, but not to be less than $5,000, or other amount deemed appropriate by the Municipal Court, such bond to be executed by a reliable insurance company authorized to do business in the State of West Virginia, as surety, and with applicant as principal, running to the city for the benefit of the city and all persons concerned, conditioned that the permittee will comply with the terms and conditions of this chapter in the drilling and operation of the well. Such bond shall become effective on or before the date it is filed with the City Clerk and remain in force and effect for at least a period of six months subsequent to the expiration of the term of the permit issued, and in addition, the bond shall be conditioned that the permittee will promptly pay off fines, penalties, and other assessments imposed upon permittee by reason of his or her breach of any of the terms, provisions, and conditions of this chapter and that the permittee will promptly restore the streets and sidewalks and other public property of the city which may be disturbed or damaged in the operations to their former condition; and that the permittee will promptly clear all premises of all litter, trash, waste, and other substances used, allowed, or occurring in the drilling or producing operations and will, after abandonment, grade, level, and restore said property to the same surface condition, as nearly as possible, as existed when operations for the drilling of the well or wells were first commenced; and that the permittee will indemnify and hold the city harmless from any and all liability growing out of or attributable to the granting of such permit. If at any time the Common Council shall deem any permittee’s bond to be insufficient for any reason, it may require the permittee to file a new bond.
(2) In addition to the bond required in division (A)(1) above, the permittee shall carry a policy or policies of standard comprehensive public liability insurance, including contractual liability covering bodily injuries and property damage, naming the permittee and the city, in an insurance company authorized to do business within the state, said policy or policies in the aggregate shall provide for the following minimum coverages, or in other amounts deemed appropriate by the Municipal Court:
(a) Bodily injuries: $50,000 one person; $100,000 one accident; and
(b) Property damage: $50,000.
(B) Permittee shall file with the City Clerk certificates of such insurance as above stated, and shall obtain the written approval thereof by the Mayor who shall act thereon within ten days from the date of such filing. Such insurance policy or policies shall not be cancelled without written notice to the City Clerk at least ten days prior to the effective date of such cancellation. In the event such insurance policy or policies are cancelled, the permit granted shall terminate and permittee’s rights to operate under the permit shall cease until permittee files additional insurance as provided herein.
(Prior Code, § 18-8)