“Junk vehicle” means a motor vehicle, as that term is defined by AS 28.40.100(12), that is: (1) stripped, wrecked or otherwise inoperable due to mechanical failure, and (2) has not been repaired because of mechanical difficulties or because the cost of repairs required to make it operable exceeds the fair market value of the vehicle; provided, however, if such motor vehicle is currently registered for operation on the public roads of the city and is insured under the requirements of AS 28.22.011, then it is presumed not to be a “junk vehicle.” To meet the insurance requirement, proof of motor vehicle liability insurance or a certificate of self-insurance that complies with AS 28.20.400 must be submitted to the city manager. (Ord. 525 § 6(7), 1997; Ord. 312 § 3, 1985; Ord. 296 § 3, 1984)