(A) A written application for a public transportation license, signed by the applicant or his or her duly authorized agent, shall be filed with the City Clerk on a form to be provided by the code enforcement officer of the city.
(B) The applicant shall attach to the application proof of financial responsibility in the following forms:
(1) A certificate of any insurance carrier authorized to do business in the state certifying that there is in effect a policy of liability insurance insuring the owner and operator of the business, its agents and employees while in the performance of their duties against loss from any liability imposed by law for damages, including damages for care and loss of services, because of bodily injury to or death of any person and injury to or destruction of property caused by accident and arising out of the ownership, use or operation of the business, subject to the following minimum limits, exclusive of interest and cost, with respect to each vehicle:
(a) $25,000 for one injury or death;
(b) $50,000 aggregate for an one accident;
(c) $25,000 for property damage in an one accident;
(d) $250,000 for one injury or death;
(e) $500,000 aggregate for an one accident; and
(f) $100 000 for property damage in an one accident.
(2) A bond of an insurance carrier duly authorized to do business within the state in an amount equal to the aggregate amount specified in division (B)(1) above. The bond shall exist in favor of any holder of a final judgment against the licensee for damages, including damages for care and loss of services, because of bodily injury to or death of any person and injury to or destruction of property caused by accident and arising out of the ownership, use or operation of the business after the bond was filed.
(C) (1) When a policy of liability insurance is used to satisfy proof of financial responsibility, the policy shall require the company to furnish 15 days written notice to the City Clerk prior to cancellation.
(2) Further, the policy shall carry an endorsement for actual notice to the city of any changes in coverage, the notice to be furnished to the City Clerk's office.
(D) (1) Except as provided in this section, when the bond of an insurance carrier is used to satisfy proof of financial responsibility, the bond shall be filed, accepted, held and used to satisfy judgments against the licensee in the same manner, and under the same conditions, as required for taxicabs by the laws of the state.
(2) The bond shall not be canceled, except upon 15 days written notice to the City Clerk.
(E) Any insurance policy or bond required pursuant to this section shall remain in full force and effect during the term of the public transportation license, and if the policy shall be allowed to lapse, is canceled, is exhausted or shall not be renewed for any reason, the City Council may cancel the public transportation license upon notice to the licensee and after opportunity to be heard.
(F) The applicant shall attach to the application a vehicle inspection form approved and signed by the code enforcement officer of the city. Prior to the use and operation of any vehicle under the provisions of this chapter, the vehicle shall be thoroughly examined and inspected by the officer.
(`90 Code, § 21-3) (Ord. 2723, passed 8-16-83; Am. Ord. 3022, passed 7-15-97)