(1) The board shall require the execution of a good and sufficient bond in an amount the board determines reasonable which shall not be less than one thousand dollars ($1,000) in favor of the state of Idaho conditioned on the payment of all damages to the surface and improvements thereon, whether or not the lands have been sold or leased for any other purposes.(2) Upon commencement of operations for the drilling of any well, lessee shall be required by the board to furnish such a bond the board determines reasonable which shall not be less than six thousand dollars ($6,000) which bond shall be in lieu of the bond required in subsection (1) of this section and shall cover all subsequent operations on said lease.[47-808, added 1937, ch. 130, sec. 8, p. 200; am. 1949, ch. 128, sec. 5, p. 226; am. 1992, ch. 160, sec. 1, p. 516.]