The Municipal Finance Officer shall, under the direction of the Common Council, keep all public property of the city properly protected by insurance against loss or damage by fire, lightning, tornado, and hail in reliable and responsible insurance companies, and securely keep such policies of insurance. The Municipal Finance Officer shall also advise the Common Council in writing at least 30 days before the expiration date of any policies of insurance carried on said public property.
(Prior Code, § 10.0507)