731.07 BOND OR PUBLIC LIABILITY INSURANCE.

   (a) Before a license is issued, the applicant shall post or maintain with the Finance Director a bond or policy of public liability insurance, approved by the Law Director and conditioned substantially as follows: that the licensee shall indemnify and save harmless the City, its officers, agents and employees from any and all loss, costs, damages, expenses or liability which may result from or arise out of the granting of such license, or the installation or maintenance of such bench for which a license is issued, regardless of the point to which such bench or benches may be moved within the City, with or without the consent of the licensee, and that the licensee will pay any and all loss or damages that may be sustained by any person as a result of, or which may be caused by, or arise out of, such installation or maintenance. The bond or policy of insurance shall be maintained in its original amount by the licensee at his expense at all times during the period for which the license is in effect. In the event that two or more licenses are issued to one licensee, one such bond or policy of insurance may be furnished to cover two or more benches, and each bond or policy shall be of a type where coverage shall automatically be restored after the occurrence of any accident or loss from which liability may thereafter accrue.

   (b) The limit of liability upon any bond or policy so posted shall in no case be less than one hundred thousand dollars ($100,000) for a loss, bodily injuries to or death occurring to one person or arising out of any one accident, and three hundred thousand dollars ($300,000) for each additional injury or death in such accident. (1967 Code §95.69)