No license shall be issued under the provisions of this chapter unless the applicant for such license has first submitted proof of insurance in the form of a certificate of insurance issued by an insurer duly authorized to issue such policies in the state. Such certificate shall show that the applicant for a license has public liability insurance covering his operation within the city, shall show the date of expiration of such insurance and shall certify that the same shall not be cancelled without at least ten (10) days' notice to the city clerk. Upon the cancellation or expiration without the renewal of such insurance, the license or permit issued hereunder to the insured shall be void. Such insurance shall be in the amount of not less than twenty thousand dollars ($20,000.00) per person insured, not less than twenty thousand dollars ($20,000.00) for all personal injuries in any one accident, and not less than five thousand dollars ($5,000.00) for property damage in any one accident. (Ord., 6-19-1961)