(A) Each such building contractor shall furnish to the city a policy or policies of insurance as follows: providing coverage for minimum public liability in the amount as set by resolution of the City Council for combined single limits or its equivalent, with the city named as an additional insured.
(B) Such policy shall provide that a 30-day written notice shall be given to the City Clerk in the event of expiration of or proposed cancellation of such insurance policy.
(2005 Code, § 9-704)