No permit shall be issued to an applicant hereunder until the applicant shall furnish proof of liability insurance in the minimum amount of $50,000.00 coverage as to one person and $1,000,000.00 coverage as to an aggregate and $50,000.00 as to property damage. In lieu of liability insurance, the applicant may provide a bond in the amount of $1,000,000.00 with a licensed corporate surety conditioned upon payment of all damages occasioned by the demolition project.
(Ord. 2535, § 5, passed 4-10-1989)