(A)   Before a license required by this chapter shall be issued or renewed, the applicant therefor shall post or maintain with the Clerk-Treasurer either an indemnity bond or a policy of public liability insurance, approved as to form by the City Attorney and conditioned substantially so that the licensee will indemnify and save harmless the city, its officers, agents, employees and insurers, from any and all loss, costs, damages or expenses, including attorney fees and costs of defense by reason of legal liability which may result directly or indirectly from the operation of a carriage for which a license is issued, and that the licensee will pay any and all loss or damage that may be sustained by any person resulting from or arising out of the operation or maintenance of a carriage. The bond or policy of insurance shall be maintained in its original amount by the licensee at his expense at all times during the period for which the license is in effect and shall designate the city as co-insured. In the event two or more licenses are issued to one licensee, one such bond or policy of insurance may be  furnished  to  cover  two  or more vehicles and each bond or policy shall be of a type where coverage shall automatically be restored after the occurrence of any accident or event from which liability may thereafter accrue.
   (B)   The limit of liability upon any bond or policy posted pursuant to division (A) shall in no case be less than $300,000 for death or injury of one person, $100,000 for total liability for death or personal injury arising out of any one event or casualty and $50,000 for property damage.
   (C)   Any bond posted pursuant to this section shall be accompanied by good and sufficient sureties approved by the Clerk-Treasurer.
   (D)   The Clerk-Treasurer shall notify the licensee under this section of any claim of which the city has notice, where such claim arises from the operation of maintenance of any carriage.
(Ord. 7-89, passed 8-15-89; Am. Ord. 22-4-98, passed 5-11-98)