Each applicant for a safe and sane fireworks permit or for a dangerous fireworks permit shall have filed with the clerk, prior to the issuance and validity of any permit, a policy, or certified copy thereof, of public liability insurance, including both accident and occurrence coverage. The insurance coverage limits for public liability coverage shall be at least five hundred thousand dollars ($500,000.00) per person per occurrence bodily injury, five hundred thousand dollars ($500,000.00) per occurrence aggregate bodily injury and five hundred thousand dollars ($500,000.00) per occurrence aggregate property insurance. Each policy of insurance shall be in form and substance acceptable to the city and shall name as insured parties under the terms of the policy of the city, all officials, elected and appointed, of the city in performance of official functions regarding all operations under or pertaining to said permit, any licensee or licensor of the applicant, and all vendors of the fireworks covered by the permit to be issued to the applicant. Said policy of insurance shall be so written that it cannot be canceled without at least thirty (30) days' prior written notice to the city from the underwriting insurance company. Cancellation of a policy is a basis for revocation of the permit. A copy of said policy shall be filed with the city clerk prior to the issuance of the permit. (Ord. 2223, 12-7-1987)