15.16.060 - Termination of liability under bond.

The applicant, as principal, and the surety under any bond filed hereunder may have the bond terminated and cancelled if and when the applicant, or the assignee of any permit granted hereunder, shall furnish a new bond therefor.

Any bond or rider thereto shall be terminated and cancelled upon the final and permanent cessation or abandonment of all operations in connection with any well or wells for which the bond or rider thereto was given, subject to compliance with the applicable provisions of this chapter.

(Ord. 52 §1 (part), 1962: prior code §3905).