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when in such event the licensee or permitee for such race shall notify <br />the said City Controller of such postponement and of the date when <br />such race shall be run. The City Controller shall then note on such <br />license or permit the date of such race as postponed from the original <br />date as set out in the priginel application. Licenses and permits for <br />the operation of midget and /or motorcycle races shall be granted after <br />the payment to the said City Controller of the sum of $10.00 and. under <br />the same conditions as set forth in this Section applicable to automobile <br />races. <br />SECTION IV — Before any license or permit shall be issued to any person, <br />persons, firm or corporation, they shall file with the City Controller <br />an insurance contract and policy of public liability for the maximun <br />sum of $2070001 and property damage insurance for the sum of 6'1010009 <br />showing that the public who attend said race or contest to be held <br />shall be protected in the amounts set forth in the foregoing as to their <br />person end their property; that said insurance shall be deemed to be <br />for the protection of the public and that said insurance shall be ex- <br />ecuted by any insurance company authorized to do business in the State <br />of Indiana, and that said Insurance policy shall be conditioned upon <br />the payment of any claims arising out of the conduct of such races <br />and for the payment of any judgment that may be obtained against the <br />holder, conductor or promoter of such races or against any driver, <br />chauffeur, employee, or agent connected with such races arising out of <br />any claim or claims for damgges for injuries occurring as a result of <br />such races. <br />SECTION V — Before any applicant shall be granted a license for the <br />holding or conducting of any automobile race, the licensee must have <br />erected or cause to be erected a suitable retaining wall not less <br />than 20 feet in front of all spectators who are not admitted to or <br />seated in a protected grandstand and the licensee to maintain police <br />supervision to keep this area clear of spectators and that no license <br />shall be granted to hold any such races upon any premises which are <br />