No license shall be issued for conducting an exhibition or carnival until the applicant therefor has placed on file with the City Clerk a certificate or certificates of insurance indicating that there is in effect public liability insurance covering any damages arising out of the use and operation of any and all devices and facilities operated in connection with the carnival or exhibition. The insurance shall be in the minimum amount of $100,000 for each person and $300,000 for each accident.
(1986 Code, § 11.22.050)