A. Before the issuance of a certificate of registration or renewal of a registration under this chapter, the registrant shall post or maintain with the Director of Finance. Operations & Risk for the city either an indemnity bond or a policy of public liability insurance, approved as to form by the Office of the City Attorney, and conditioned substantially that the registrant will indemnify and save harmless the city, its officers, agents and employees, from any and all loss, costs, damages or expenses, by reason of legal liability that may result from or arise out of the operation of a pedal cab for which a certificate of registration is issued, and that the registrant will pay any and all loss or damage that may be sustained by a person that results from or arises out of the illegal or negligent operation or maintenance of a pedal cab. The bond or policy of insurance shall be maintained in its original amount by the registrant at the registrant's expense at all times during the period for which the registration is in effect. In the event two or more certificates of registration are issued to one registrant, one such bond or policy of insurance may be furnished to cover two or more pedal cabs, and each bond or poliey shall be of a type where coverage shall be restored automatically after the occurrence of any accident or event from which liability may thereafter accrue.
B. The limit of liability upon any bond or policy posted under this section in no event shall be less than two million dollars for death or injury of one person, five million dollars for total liability for death or personal injury arising out of any one event or casualty, and fifty thousand dollars for property damage.
C. Any bond posted under this section shall be accompanied by good and sufficient sureties approved by the Director of Finance, Operations and Risk.
D. Anyone transported via pedal cab shall sign an agreement and release from liability form provided by the city prior to using the pedal cab.
E. The Department of Community Development shall notify the registrant under this chapter of any claim of which the city has notice, where such claim arises from the operation or maintenance of any pedal cab. (Ord. 29-2019, 2019)