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<br />e <br /> <br />e <br /> <br />Municipal Airport, as established by Ordinance No. 1660 of the City <br />of La Porte. <br /> <br />1. Lease shall be for a term not less than five (5) and not <br />more than thirty (30) years, with other terms and conditions <br />to be negotiated, commensurate with the Operator's financial <br />investment in his facility. <br /> <br />2. Operator, or a supervisory employee, shall have had at <br />least five (5) years experience in the aeronautical service it <br />wishes to provide. Should an Operator not have such <br />experience, but can demonstrate to the Owner's satisfaction <br />that he has had equivalent related experience, such may be <br />deemed acceptable. A statement of qualification shall <br />accompany the Operator's letter of intent to the airport <br />Owner. <br /> <br />3. Any Operator seeking to conduct aeronautical services at <br />the airport must provide the Owner a letter setting forth the <br />Operator's financial qualifications, to the Owner's <br />satisfaction, from a financial institution doing business in <br />the area, or other such source that may be readily verified <br />through normal banking channels. The Operator must also <br />demonstrate that it has the financial ability or backing, <br />where applicable, for the construction of facilities that may <br />be required for the proposed concept of operation. In <br />addition, the Operator will provide proof of current financial <br />net worth showing that applicant holds unencumbered liquid <br />assets in a total amount at least equaling three (3) months <br />estimated maintenance and operating expenses. <br /> <br />4. All Operators shall demonstrate to the Owner's satisfaction <br />evidence of its ability to acquire insurance coverage as <br />stipulated for each particular type of operation. The <br />following shall be established as minimum coverage: <br /> <br />Minimum Limits <br /> <br />When Needed <br /> <br />· Worker's Compensation <br />and Employer Liability <br /> <br />· Aircraft Liability <br /> <br />Statutory <br /> <br />Statutory <br /> <br />$500,000 each occurrence Owned or leased <br />$100,000 each passenger aircraft <br /> <br />- <br />· Non-owned Aircraft <br />Liability <br /> <br />- - . <br />- $500,000 each occurrence Flying non-owned <br />$100,000 each passenger aircraft <br /> <br />· Airport Premises <br />Liability <br /> <br />$500,000 <br /> <br />Airport premises <br />are owned or <br />leased by <br />tenant <br /> <br />4 <br />