(a) No person shall cause a banner or sign to be placed upon or over a public street without having received a permit so to do from the Director of Public Safety. The Director shall promulgate rules and regulations relative to the erection of such signs and banners, which rules and regulations shall include a provision for bond and/or liability insurance for the purpose of protecting the City and all other persons against injury or damages which might result from the erection and maintenance of such signs and banner.
(b) No permit shall be issued unless:
(1) The same meets or exceeds the requirements of the rules and regulations;
(2) The applicant pays to the City a permit fee as established by Council; and
(3) The sign or banner is for the purpose of advertising a nonprofit event. (1964 Code Sec. 95.17)