Before issuing any person a license as a taxicab business or commercial transportation business, such person shall file with the city clerk public liability and property damage insurance with some good and reliable insurance company for the vehicle being utilized for such taxicab or commercial transportation service, with combined single limits of three hundred thousand dollars ($300,000.00), or with split limits of not less than one hundred thousand dollars ($100,000.00) for personal injuries to one person; and not less than three hundred thousand dollars ($300,000.00) for personal injuries caused by any one accident and not less than fifty thousand dollars ($50,000.00) for property damage caused by any one accident. No person shall provide a taxicab or commercial transportation service without underinsured and uninsured motorist insurance for the vehicle being utilized in such service. The city shall not issue a license to any applicant for a taxicab business or commercial transportation business until the applicant has furnished proof satisfactory to the clerk that insurance of the type and in the amount required by this chapter has been purchased for the vehicle to be utilized in such taxicab or commercial transportation business service and that the city has been made an insurance certificate holder in such insurance. (Ord. 938, 12-17-2015)