(A) Before any such permit is issued the person, firm or corporation applying for a permit hereunder, must present to the Board of Public Works and Safety a policy insuring against any damage to the public by reason of the moving, in the amount of not less than $25,000 personal injury to such person, $50,000 for each accident and $25,000 property damage.
(B) In addition to such insurance, the applicant shall execute a bond payable to the city in a sum of not less than $10,000, with corporate surety approved by the Board of Public Works and Safety, that he or she will strictly comply with the terms of the permit and that the applicant will repair, compensate or reimburse the city for any cost or expense involved in the repair of any public property which may be damaged by the move, and that he or she will further pay damages to any person whatsoever, occasioned by the moving.
(Ord. G-59-64, passed 7-8-1959)