(a) All property owners, tenants or business occupants of real estate in the city desiring to hang or project a sign from a building into the public sidewalk, alley or street right-of-way shall first sign a document in the office of the Director of Public Works and Services agreeing to hold the city harmless for any liability or damages of any type arising in any manner from or connected with the projecting of such sign into the public sidewalk, alley or street right-of-way.
(b) This section shall apply to all signs currently located in the public right-of-way and to the installation of new signs in the public right-of-way.