Anyone owning or maintaining a news rack on city owned property or in the public right of way shall maintain liability insurance with an insurer that is licensed to transact business in the state of Utah and that is financially sound and reputable, as determined by the city attorney. Such liability insurance shall provide coverage for all liability that the owner or maintainer of the news rack may incur by virtue of the placement, care, use, operation and existence of the news rack. Such insurance shall have a minimum limit of two hundred fifty thousand dollars ($250,000.00) per occurrence and a five hundred thousand dollar ($500,000.00) aggregate limit for personal injury and a one hundred thousand dollar ($100,000.00) limit for property damage. Such insurance shall name the city as an additional insured and may not be cancelable without thirty (30) days' prior written notice to the city. The licensee shall provide evidence of insurance to the city's real property manager upon submittal of an application for a news rack license or upon renewal of an existing license. (Ord. 7-15, 2015)