Whenever a bond or certificate of insurance is called for as a condition precedent to the granting of any permit required by this article, such bond shall be in the sum of $10,000.00 and/or certificate of insurance in the amount of $1,000,000.00 or such larger sum as the director of public works shall specify as commensurate with risk to the permit applicant arising out of any injury to or death of members of the public or property damage which might be suffered through the negligent exercise of the privilege granted under such permit. If a bond or certificate of insurance is furnished, it shall be conditioned to save harmless the permit applicant from loss resulting from the death of or injury to persons or damage to property which is caused or is occasioned by the doing of the thing or exercise of the privilege for which the permit is required.
(Ord. No. 47-A-95, § 7, 12-18-1995)