725.03 INSURANCE OR BOND.
   In addition to the application, the applicant shall furnish and file with the Mayor the following:
   (a)   A full transcript of the information appearing on the certificate of title of each vehicle for which license is desired, and the State license number of each such vehicle.
   (b)   An unexpired official certificate from an authorized motor vehicle inspection station of the Municipality, or if none exists from a neighboring City in Ohio, that each vehicle for which a license is desired has been inspected and tested and found to meet the standards fixed by statute and that each such vehicle is roadworthy and safe for operation as a taxicab.
   (c)   A policy or policies of liability insurance issued for the life of the license applied for or longer, by a responsible insurance company, approved as to sufficiency by the Treasurer, and as to legality by the Solicitor, providing indemnity for or protection to the applicant against loss resulting from the operation of each such taxicab to the extent of one hundred thousand dollars ($100,000) on account of injury or death of one person in any one accident; two hundred thousand dollars ($200,000) on account of injury or death of more than one person in any one accident; and one hundred thousand dollars ($100,000) for property damage caused in any one accident.
   (d)   In lieu of the policies of insurance above described, applicant may furnish a bond binding the principal and sureties to liability for the payment of a judgment or judgments to the extent of one hundred thousand dollars ($100,000) two hundred thousand dollars ($200,000) and one hundred thousand dollars ($100,000) respectively, as above set forth, with at least two approved persons as sureties or one approved corporate surety approved as to sufficiency by the Treasurer and as to legality by the Solicitor.
(Ord. 2205. Passed 3-7-72.)