Bulk storage tanks, either above ground or below ground, for the storage of fuels, chemicals or any type of hazardous materials shall be placed no closer to a lot line or any principal building than allowed by State standards. Bulk storage tanks, either above ground or below ground, shall be placed in such a manner should their contents leak they shall be retained from flowing into the street, any drainageway or public waterway. They shall be completely screened and secured with a fence no lower than five feet. Proper ventilation shall be provided around the tanks. No bulk storage tanks shall be placed in a required front yard or side street side yard.