(A) The City Council shall act on the company's application for a certificate of public convenience and necessity by resolution and may deny any such application, if in its sound discretion, it determines that:
(1) There is a reasonable cause rendering the proposed operation undesirable or inadequate to this city or the financial condition of the company appears to the City Council to be unstable or inadequate to perform the conditions which may be reasonably imposed;
(2) There is insufficient public need or demand for the proposed service;
(3) The applicant's operation is inadequate or unsafe or applicant fails to meet reasonable issuance requirements established by the city.
(B) The City Council may, by resolution, and after five days written notice to the company, suspend or revoke a company's certificate of necessity for any of the grounds for which it may deny an application and, in addition thereto, it may suspend or revoke any company's certificate of necessity, for a violation of any of the provisions of this chapter.
('61 Code, § 21.24) (Ord. 271, passed - - ; Am. Ord. 538, passed - - )