No permit for a sewer connection or sewer extension shall be issued by the President and Board of Trustees of the Village unless the applicant or the contractor shall have first procured public liability insurance in an amount not less than two million dollars ($2,000,000.00) (or one million dollars ($1,000,000.00) with a one million dollars ($1,000,000.00) umbrella policy) for injuries, including accidental death, and property damage insurance. The Village shall be named as an additional party insured in said policy or policies. Said policy or policies or a certificate and memorandum thereof shall be filed with the Village Clerk. (Ord. 256, 2-26-62)