Every person engaged in the occupation of driving taxicabs, automobiles or other vehicles for hire, for the purpose of transporting persons, except public buses operated under the franchise, shall be licensed by the City. Applicants shall have and maintain a current Ohio motor vehicle operator's license. The applicant shall pay an annual license fee therefor of five dollars ($5.00), together with a photograph which shall be taken by the licensing authority. The license and photograph shall be displayed where passengers can set it. The licensee shall comply with the terms of this chapter and all ordinances or laws governing the operation of taxicabs and motor vehicles which may now be in effect or which may hereafter become effective. If the licensee loses his/her privilege to operate a motor vehicle in Ohio, the City license shall be surrendered.