Prior to the issuance of any registration under this Division H, the
shall require that the applicant deposit a bond approved as to form in the amount of $10,000 in favor of the city, conditioned upon the satisfactory observation of all the requirements of this code pertaining to
and a valid certificate of liability insurance. The minimum limits of coverage for such insurance shall be: at least $2,000,000 each claim; and, at least $1,000,000 each incident. Such insurance shall be kept in force during the term of the license and the licensee must provide for prior notification to the city should the policy be terminated or canceled. The bond may be of continuous form with accumulative liability, and shall be cancelable only after ten days’ written notice to the city. The registration shall remain in force only during the term of a valid bond.
(Ord. 75, passed 12-5-1955; recodified by Ord. 95-13, passed 8-7-1995; Ord. 2005-32, passed 8-15-2005; Ord. 2022-15, passed 4-25-2022)