All persons shall obtain a business license in accordance with the procedures of Chapters 5.04 and 5.05 and the business license shall be maintained in full force and effect at all times that vending machines are maintained on public rights-of-way. Before issuing a business license, the director of finance shall insure that there is on file the following:
A. A written statement satisfactory to the city attorney whereby the person who will place or maintain such machine on a public street agrees to indemnify and hold harmless the city and its officers, agents, or employees from any loss or liability or damages including expenses and costs for bodily or personal injury and for property damage sustained by any person as a result of the installation, use, or maintenance of such a machine within the city;
B. A certificate of insurance establishing that there is in force and effect an insurance policy which will remain in force during the time that such machine is allowed to remain on public property, which such policy shall be of public liability insurance against liability for death or for injuries to persons or damage to property arising out of accidents attributable to the newspaper or magazine racks or stands or publication vending machines on city property in the amounts determined by the city with limits of at least one hundred thousand dollars for injury or death to any person, and three hundred thousand dollars for injury or death arising from any one accident or occurrence, and twenty-five thousand dollars for property damage. The policy of insurance so provided shall contain a contractual liability endorsement covering the liability assumed by the permittee by the terms of his permit and shall contain a provision that such policy may not be cancelled except after thirty days’ notice in writing given to the director of finance. Copies of these policies or certificates evidencing the same shall be filed with the city. (Ord. 901-01 § 2 (part))