O-1947-348 - Laserfiche WebLink

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--....... . ,. ----.... ." \ . . ----.". .. e ...---............ " .- . . -6... authorized to operate the premises of said owner f~r the develop= ment and production of oil and gas, and shall be conditioned upon the sett13ment or payment by the applicant or 111s assigns for oil and gas iLl accordance \1ith the j,:>roviaions of this Ordinanceg This bond shal:~ be in the sum of Twenty Thousand Dollar's (~20" 000.00) ; provided" ~owever, that the sum of the bond sha1l ~e automatically reduced b;'T an amount in proportion to the difference between the total area of the drilling block and the total area o~ned by the applicant in fee or covering which he has leases f!'ori~ nr drill ing contracts ~ith or waivers from the owners authorizing operations for the development and production of oil or ga~. It is specifi- c&lly prooided that in lieu or any surety bond or Donds required to be given hereunder the applicant may file with t~o City Clerk his perso~lal undertal{ing or undertakings, which shall be in the same amou~lt and shall contain the same conditions as hereinbefore provided ',ilith respect to surety bonds and which undertaking or un- dertaking~ shall be secured by United States Government securities or securities of the state of Texas or of counties or municipali- ties in the State of Texas, having a par value equal to the amount of the su!>ety bond or bonds in 1 ieu of which such undertaking or undertakings is or are given; which securities shall be deposited in escrow in a national bank jointly selected by the City Clerk and the ap~llcant or his assigns attached to a copy of the written undertakine for which they aX'e to be held as secur-:;. ty. Section 8. Notice of the filing of each application for permit shall be given by the applicant as fo1lo~sg At least ten (10) days prior to the date of hearing on the application, a copy of notice in the fore hereinafter prescribed shall be sent by re= gistered oa11 to each owner and lasses of lots, blocks and tracts in said dpilling block not .owned by or under lease to the appli~ cant, addressed to the last known address of such land and lease owners if known to the applicant; and a copy of such notice shall likewise De published at the cost of the applicant i~ every i~sue of the official paper of the City of La Porte, Texas, for ten (10)