(a) The owner of any wireless telecommunications tower shall maintain liability insurance insuring the City and the owner with regard to all damages arising out of or pertaining to injury, death, damages to property real and personal, arising out of the operation of the tower, or otherwise, in the following minimum amounts:
(1) One million dollars ($1,000,000) for bodily injury or death to any one person;
(2) Three million dollars ($3,000,000) for bodily injury or death resulting from any one accident or occurrence;
(3) Five hundred thousand dollars ($500,000) for property damage to any single property; and
(4) Three million dollars ($3,000,000) for excess liability or umbrella coverage.
(b) Owner shall furnish to the City certificates of insurance evidencing owner's compliance with this section. All insurance required by this chapter shall be and remain in full force and effect for the entire term of this chapter. Such insurance, if canceled for any reason, shall immediately be put back in force subject to the terms and requirements specified herein.
(c) Any insurance policy obtained by the owner to comply with this section must be approved by the City's Law Director, which approval shall not be unreasonably withheld, and a certificate of insurance and a duplicate copy of said insurance policy, along with written evidence of payment of required premiums, shall be filed and maintained with the City Clerk during the term of this chapter. Such insurance may be changed from time to time to reflect changing liability limits as may be reasonably requested by the City, but not below the minimum established herein. Owner shall immediately notify the City in writing of any litigation that may develop that would affect the insurance required herein.
(d) Upon written request of the grantee, and approval of the City Manager, grantees who maintain a net book value in excess of fifty million dollars ($50,000,000) may self-insure in lieu of maintaining and providing the policies of insurance and bonds described above. Such grantees shall provide to the City Manager such certificates or other documents attesting to such book value, insurance and bonding as the City Manager may reasonably request.
(Ord. 01-110. Passed 2-26-01.)