No license shall be issued hereunder until and unless the applicant for license deposits with the City Clerk a prepaid policy or certificate of liability insurance for each ambulance for which a license is sought, said policy of liability insurance to be accepted and approved by the Chief Legal Officer and issued by a company authorized to do business in the State of Michigan, indemnifying applicants in the sum of at least twenty-five thousand dollars ($25,000.00) for injury or death to one person, or fifty thousand dollars ($50,000.00) for injury or death to more than one person, and ten thousand dollars ($10,000.00) property damage in any one accident through the operation of the vehicle of the applicant. The policy of insurance so deposited shall contain a clause obligating the company issuing same to give ten days’ written notice before cancellation thereof to the City Clerk. The license for the operation of the vehicle shall expire upon the lapse or termination of the policy of insurance.
(Ord. 1717, passed 5-20-1963)