§ 30.016. Bonds; indemnification; insurance.

Sec. 4.6. Each applicant for such permit shall also file a bond with suitable sureties conditioned that he will suitably guard or protect any excavation or obstruction maintained or created by him and will indemnify the City for any loss or damage resulting from injury to any person or property caused by such excavation or obstruction; in lieu of said bond the applicant may file a public liability insurance policy of an acceptable company of the type known as owner's or contractor's protective liability insurance with coverages of five and ten thousand dollars for personal injuries and one thousand dollars for property damage, wherein the City as owner is the named insured.

(Title IV, Chap. 26 eff. July 22, 1962)