Before a certificate is issued by the City Manager, the applicant to whom a certificate will be awarded, shall deliver to the City Manager a certificate of insurance, executed by a company duly authorized under the laws of the state to do an insurance business by the provisions of which policy the company promises and undertakes to pay in full all claims for damages to persons or property resulting from the operation of the automobile referred to in the application; provided, that the maximum amount for which liability shall be assumed for injury to or death of one person in any one accident shall be in minimum amounts set by the City Manager.
('83 Code, § 5.52.070)