(a) No building moving permit will be granted until the applicant therefor has posted a bond, with sufficient sureties thereon, payable to the City, in a principal sum to be fixed by the Director of Law, insuring the City against any and all damages to public property occasioned by such moving.
(b) No building moving permit will be granted until the applicant therefor has furnished to the Director of Law, evidence that the applicant is satisfactorily covered against general liability, including personal injury and property damage to third parties, in an amount to be determined by the Director of Law.