Any certificate granted under the provisions of this chapter may be revoked by the City Council, after the conduct of a hearing hereon, noticed as provided in § 123.04, for any of the following reasons:
(A) That the insurance required hereby has not been given or has been withdrawn or lapsed, for any reason.
(B) For the nonpayment to the city of any license fee required by this code.
(C) For failure to observe any of the rules and regulations or provisions set out in this chapter or in the certificate.
(D) For the violation of any applicable law by any certificate holder, operator or driver of any taxicab covered by the certificate.
(E) For the failure to maintain satisfactory service to the public.
(F) For any cause which in the opinion of the City Council makes it contrary to the public interest, convenience and necessity for the certificate to be continued in effect.
('83 Code, § 5.52.080)