In order to insure the safety of the public, it shall be unlawful for any person to operate a taxicab in the City, unless there is given and in full force either:
(a) A bond of the owner or operator of the taxicab with a responsible surety company or association authorized to do business under the laws of the State, in the sum of one hundred thousand dollars ($100,000), conditioned that the owner or operator of the taxicab will pay all loss or damage that may result to any person or property from the negligent operation of or defective construction (or condition) of the taxicab, or which may arise from any violation of any of the provisions of the ordinances of the City, or the laws of the State, which bond shall guarantee payment within the limits prescribed, viz., an aggregate liability of one hundred thousand dollars ($100,000) and a limitation of fifty thousand dollars ($50,000) for any one person killed or injured and one of fifty thousand dollars ($50,000) for the injury to or destruction of any property, or any final judgment rendered against such owner or operator; or
(b) A policy of insurance in a company authorized to do business in the State, with a total liability of one hundred thousand dollars ($100,000) insuring the owner or operator against loss by reason of damage that may result to any person or property from the operation of the taxicab, which policy shall guarantee payment, within the limits prescribed, viz., an aggregate liability of one hundred thousand dollars ($100,000) and a limitation of fifty thousand dollars ($50,000) for any one person killed or injured and one of fifty thousand dollars ($50,000) for the injury to or destruction of any property, or any final judgment rendered against such owner or operator.
(Ord. 6-14. Passed 2-24-14.)
(Ord. 6-14. Passed 2-24-14.)