(A) No license to operate any public vehicle, other than a driverless auto-for-hire, shall be issued or renewed by the Mayor, and it shall be unlawful to operate any public vehicle or permit the same to be operated unless the applicant deposits with the Mayor a policy of liability insurance issued by a responsible insurance company, approved as to sufficiency by the Mayor and as to legality by the Village Solicitor. This insurance shall provide indemnity for, or protection to, the insured against loss in the amounts provided for in § 112.09 and agree to pay, within the limits of the amounts, to any judgment creditor who has filed his or her suit or notice of a claim for loss with the Mayor during the license year in which the injury occurred, or six months thereafter, any final judgment rendered against the insured by reason of the liability of the insured to pay damages to others for bodily injuries, including death at any time resulting therefrom, and for damages to or destruction of property sustained during the term of the policy by any person other than employees of the insured, and resulting from negligent operation, maintenance, or use of those licensed public vehicles.
(B) The policy of insurance aforesaid, or the bond given in lieu thereof, shall provide that in case the public 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 person or damage to property as set forth above, due to the negligent operation, maintenance, or use of that public vehicle, that the insurer or the obligers in the bond, as the case may be, shall pay to any judgment creditor of the person maintaining, using, or operating the public vehicle, any final judgment rendered against that person. The judgment creditor shall have filed his or her suit, or notice of claim as provided in this section.
(C) The policy of insurance, and the bond hereinbefore required, shall be valid and effective for the same period for which the license is issued.
(1967 Code, § 112.07) (Ord. O-23-42, passed 6-8-1942) Penalty, see § 112.99