No person shall regularly operate or use any automobile, bus or other vehicle to carry passengers for hire within the City without first depositing with the City Auditor a liability insurance policy issued by any company authorized to engage in the insurance business in the State, covering such person and any other person authorized by him to operate such vehicle, either as agent, servant or lessee, against loss to property by reason of an accident in an amount not less than twelve thousand five hundred dollars ($12,500) and against injury or death to each person by reason of an accident in an amount not less than twenty-five thousand dollars ($25,000) and for each accident in an amount not less than fifty thousand dollars ($50,000).
The Director of Public Safety/Service shall immediately revoke the certificate of public convenience and necessity if the insurance policy required by this section is canceled or revoked.
(Ord. 77-78. Passed 8-16-77; Ord. 03-68. Passed 6-17-03.)