(a) A grantee shall at all times during the life of a franchise carry and require its contractors and subcontractors to carry Federal and/or State personal and public liability insurance in an amount as shall be reasonably determined by the City.
(b) All required insurance coverage shall provide for thirty days notice to the City in the event of material alteration or cancellation of such coverage prior to the effective date of such material alteration or cancellation. Failure of the grantee to provide appropriate insurance certificates to the City within sixty days after the execution of a franchise shall render the franchise null and void.
(Ord. 615. Passed 9-5-95.)