The policy of insurance shall protect the city, its officers and employees against any and all loss, costs, damages or liability which may result from or arise out of the granting of the permit, or the installation or maintenance of the object for which the permit is issued. The policy of insurance shall be maintained in its original amount by the permittee at his expense at all times during the period for which the permit is in effect. In the event that two or more permits are issued to one permittee, one policy of insurance may be furnished to cover two or more objects.
('86 Code, § 13.32.060) (Ord. 3037, passed - - )