(a) No license to operate a public vehicle shall be issued or renewed by the Village Clerk-Treasurer, and no person shall operate a public vehicle or permit the same to be operated, unless and until the applicant deposits with the Village Administrator a policy or policies of liability insurance issued by a responsible insurance company, approved as to sufficiency by the Administrator and as to legality by the Solicitor, providing indemnity for or protection to the insured against loss in the amounts provided for in this chapter.
(b) The policy of insurance aforesaid and the bond given in lieu thereof, as hereinafter referred to, shall provide that if the vehicle is operated, maintained or used with the consent or acquiescence of the owner, by one other than the owner, his or her agent or employee, and an injury results to a person or property as indicated above, due to the negligent operation, maintenance or use of such vehicle, then the insurer or the obligors on the bond, as the case may be, shall pay to any judgment creditor of such person so maintaining, using or operating such vehicle, any final judgment rendered against such person so maintaining, using or operating such vehicle, provided that such judgment creditor has filed his or her suit, or filed notice of claim for such loss in all respects, as is provided for the judgment creditor of the insured in this section.
(c) The policy of insurance and the bond hereinafter required shall be valid and effective for the same period for which the license is issued.
(Ord. 1184, passed 1-28-1952; Am. Ord. 82-3, passed 1-4-1982)