All individuals, persons, firms, or corporations participating in any project for which a permit is obtained pursuant to this chapter shall:
A. Have in force general public liability insurance coverage in an amount of not less than one million dollars ($1,000,000.00) per occurrence;
B. Name the city as an additional insured under said policy;
C. Provide notice of cancellation by the insurance company to the city if coverage is canceled;
D. Furnish to the city at the time of filing the surety or corporation performance bond, the nature and extent of liability insurance. (Ord. 524 §1, 2000)