(A) No permit to conduct a carnival shall issue until the applicant shall furnish to the City Clerk written evidence that a public liability insurance policy in amounts of not less than $800,000 for one person, $2,000,000 for any one accident, and $200,000 for injuries to property; including as a beneficiary the city; and containing such other provisions as the City Council may prescribe, shall be in force during, and for 24 hours before and after, the carnival.
(B) In addition, no permit to conduct a carnival shall issue until the applicant shall deposit with the City Clerk a surety bond to the city, to be approved by the City Clerk, in the sum of $2,500, or in lieu thereof cash in that amount, conditioned that no damage will be done to streets or to sewer, water, electrical, or other equipment or property of the city, and that no dirt, paper, litter, or other debris will be permitted to remain upon the sidewalk, streets, or alleys or any adjacent private property.