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No person shall be issued a permit under § 112.02 until he or she has first produced, to the satisfaction of the Town Clerk, evidence that the operation for which the permit is being requested is covered by a public liability insurance policy or policies, or, in lieu thereof, deposits of cash or approved securities or surety bond with sureties, who are residents of North Carolina or duly authorized to transact business therein, whose solvency shall at all times be subject to the approval of the Town Board, in the amounts of not less than $25,000 for bodily injury or death of one person in case of one occurrence and not less than $50,000 for bodily injury or death of more than one person in case of one occurrence, and conditioned upon the owner or any agent of the owner responding in damages for any liability incurred on account of bodily injury or death to persons resulting from the negligent maintenance or operation of any amusement center or any riding devices.
(1983 Code, § 4-3) (Res. passed 5-26-1961; Am. Ord. passed 3-25-1966; Am. Res. passed 7-6-1967; Am. Res. passed 4-25-1969)