Before any owner's permit shall be issued, the owner shall be required to file with the City Clerk, and thereafter keep in full force and effect, a policy of insurance in such form as the City Attorney may deem proper, executed by an insurance company approved by the City Attorney. Such policy of insurance shall insure the owner and the driver of each of the vehicles operated, or to be operated, under the owner's permit against liability for damages to property and for injuries to, or the death of, any person as a result of the ownership, operation, or other use thereof. The minimum liability limits upon each such vehicle shall be not less than $500,000 on account of personal injuries to, or the death of, any one person in any one accident and $1,000,000 on account of personal injuries to, or the death of, two or more persons in any one accident, and the minimum liability limits upon each such vehicle shall be not less than $50,000 for damages to, or the destruction of, property in any one accident. All such policies shall contain a provision for a continuing liability thereunder up to the full amount of coverage thereof, notwithstanding any recovery thereon, and that the city shall be held harmless for all claims, demands, and actions of any type whatever occasioned by the operation of the permittee's taxicab or rent car business, and shall further contain a provision or endorsement providing that such policy will not be canceled until a notice in writing shall be given to the city, addressed in care of the City Attorney, City Hall, Antioch, California, at least 30 days immediately prior to the time such cancellation shall become effective.
('66 Code, § 5-12.23) (Ord. 315-C-S, passed 6-10-76; Am. Ord. 536-C-S, passed 11-25-82) Penalty, see §§ 1-2.01 et seq.