§ 41-4-23. Surety bond and liability insurance required.

(a)

Before any permit under this division shall be issued, the applicant therefor shall file with the finance director a surety bond, with form approved by the corporation counsel, in the penal sum of not less than one thousand dollars ($1,000.00), saving and protecting the city harmless from all expenses or losses that may arise from the applicant's use of the city's streets, boulevards or parks in erecting, operating or maintaining any newsstand, or as a result of the applicant's failure to pay the fee or use tax required by this division.

(b)

The applicant shall also file with the finance director a public liability and property damage insurance policy, naming the applicant and the city, including its employees, as the assureds, and providing for the payment of any liability imposed by law upon such applicant or the city to the extent of fifty thousand dollars ($50,000.00) for injury to or death of any one person and one hundred thousand dollars ($100,000.00) for injuries to or death of more than one person and for damage to property in the amount of one thousand dollars ($1,000.00).

(Code 1964, § 58-8-8)