The permittee shall have and maintain in force public liability insurance in amounts of not less than one hundred thousand dollars ($100,000.00) for injury to one person and three hundred thousand dollars ($300,000.00) for any one accident and property damage in an amount not less than one hundred thousand dollars ($100,000.00) which policy shall be in force and effect during the period of the permit. (Ord. 157 § 900, 1961)