The City Manager shall require, as a condition of issuing such a permit, that the applicant furnish a bond, insurance or both in such an amount as shall hereafter be fixed by City Council resolution to protect the City against claims of third persons for personal injury, wrongful death and property damage to and to indemnify the City for damage to City property arising out of the permittees’ activities. (Ord. 82-5 § 6, 1982; Ord. 78-1 § 8.)