Unless the Director of Public Works finds that no insurance is required for the protection of the city or the public and waives the requirement of this section, the permit shall not be effective unless and until the applicant posts and maintains with the city a policy of public liability and property damage insurance, approved as to form and insurer by the City Manager and conditioned so as to protect, indemnify and save harmless the city, its officers and employees from all loss, damages, liability, costs and expenses that may result from or arise out of the granting of the permit for and the installation of the encroachment, and to pay any and all loss or damage that may be sustained by any person as a result thereof. The limit of liability shall be at least $100,000 for the death or bodily injury of one person and $300,000 for death or bodily injury of more than one person, and $50,000 for property damage.
(`83 Code, § 12.48.040) (Ord. 89-6 § 1 (part), 1989)