The City Clerk shall review such application and if in his opinion the public interest will not be unduly restricted he shall notify the applicant that a permit therefor will be granted subject to filing a satisfactory hold-harmless agreement or primary liability insurance policy which will indemnify the City and release it from liability. Subsequent to such filing a permit will be issued. [Ord. 1500 § 2, 1971; Code 1970 § 5.56.020.]