Sec. 42-176. - Bond or liability insurance as prerequisite to grant.
No permit shall be granted for the construction of any vault until a proper bond, with surety, or a liability insurance policy payable to the city, in the penalty of five thousand dollars ($5,000.00), has been given, and the surety therein approved by the city manager, and the form thereof approved by the city attorney. Every such bond or insurance policy shall be with condition to indemnify the city against any and all loss, damage, injury, cost or expense that may be incurred by the city by reason of the construction, maintenance or use of such vault or any appurtenance or appliance thereof, or any fixture or machinery therein, or in closing such vault or removing any fixture or machinery therefrom, or in doing anything in or about such vault which should have been done by the owner or proprietor thereof, or by the applicant for a permit therefor. No such bond or insurance policy shall be accepted which is so drawn that the liability of the surety therein is limited to such claim, loss, damage, cost or expense as may arise or be incurred by the city during any specified period of time.
(Code 1958, 45-75)