(a) Investigation and Notification. The Director of Public Safety shall investigate each application for a taxicab license. If the Director finds upon such investigation that the public convenience and necessity do not justify the operation of the vehicle for which such license is desired, he shall forthwith notify the applicant of his findings. If the Director finds from such investigation that the public convenience and necessity do justify the operation of the vehicle for which such license is desired, he shall forthwith notify the applicant of his findings.
(b) Required Documents. Within sixty days after being notified of an affirmative finding of justification for the operation of such vehicle made pursuant to subsection (a) hereof, the applicant shall furnish and file with the Police Department the following documents:
(1) A full transcript of the information appearing on the certificate of title of each vehicle for which such license is desired, and the license plate number of each such vehicle;
(2) An unexpired seal of inspection as provided for in Section 737.12(a);
(3) The name of each person who will operate such taxicab, with the operator's license number of each such person; and
(4) A policy of liability insurance, issued for the life of the license applied for or longer by a responsible insurance company, approved as to sufficiency by the Treasurer, and as to legality by the Director of Law, providing indemnity for or protection to the applicant against loss resulting from the operation of each such taxicab of not less than one hundred thousand dollars ($100,000) for bodily injury to or death of one person in any one accident, of not less than three hundred thousand dollars ($300,000) for bodily injury to or death of more than one person in any one accident and of not less than fifty thousand dollars ($50,000) for property damage caused in any one accident. In lieu of such insurance policies, the applicant may furnish a bond binding the principal and sureties to liability for the payment of a judgment or judgments to the extent of one hundred thousand dollars ($100,000), three hundred thousand dollars ($300,000) and fifty thousand dollars ($50,000), respectively, as provided in this subsection, with at least two approved persons as sureties or one approved corporate surety, approved as to sufficiency by the Treasurer and as to legality by the Director of Law.
(c) Final Approval. After subsection (b) hereof has been complied with, the Safety Director shall examine such supporting information and documents, and being satisfied that the applicant is the owner of any such vehicle, that the same is a safe and fit vehicle and that satisfactory insurance or bond has been issued and is in force thereon, he shall, upon payment of the license fee provided for in Section 737.03, issue a license to the applicant.
(Ord. 10-77. Passed 3-21-77.)