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Prior to issuance of a public works construction permit, the applicant shall have provided the Director of Public Works with a policy of insurance which has been approved by the City Attorney, executed and delivered by a reliable insurance company authorized to carry on an insurance business in the state, by the terms of which said insurance company assumes responsibility for injuries to persons and property as a result of constructing the work set forth in the permit, in the following amounts:

A. One hundred thousand dollars ($100,000) for property damage;

B. Two hundred thousand dollars ($200,000) for death or injuries to any person, in any one occurrence;

C. Five hundred thousand dollars ($500,000) for death or injuries to two or more persons, in any one occurrence.

Governmental agencies, including the state of California and its political subdivisions, shall not be required to provide the insurance required by this section, but shall be required to hold the City harmless. (Ord. 1510 § 3, 1973; Ord. 1240 § 8; Ord. 1205 § 2, 1969; prior code § 27.411).