(A) Form. Every application for a license to sell liquor shall state the name of the applicant, representations as to his or her character, with such references as the Council may request, the type of license applied for, its location, how long the applicant has been in existence and such other information as the Council may request from time to time. In addition to containing the information, the application shall be in the form prescribed by the Liquor Control Director and shall be verified and filed with the City Clerk-Treasurer. No person shall make a false statement in an application. A copy of each application shall be forwarded to the Chief of Police and he or she shall return a report of his or her objections, if any, to issuance of the license requested.
(B) Bond and insurance. Each application for a license shall be accompanied by a surety bond or, in lieu thereof, cash or United States Government bonds of equivalent market value as provided in Minn. Stat. § 340A.409, as it may be amended from time to time. Such surety bond or other security shall be in the sum of $3,000. Each applicant for a license shall provide, with the application, proof of financial responsibility as follows:
(1) A certificate that there is in effect an insurance policy or pool providing the following minimum coverages:
(a) Fifty thousand dollars because of bodily injury to any one person in any one occurrence, and, subject to the limit for one person, in the amount of $100,000 because of bodily injury to two or more persons in any one occurrence, and in the amount of $10,000 because of injury to or destruction of property of others in any one occurrence; and
(b) Fifty thousand dollars for loss of means of support of any one person in any one occurrence and, subject to the limit for one person, $100,000 for loss of means of support of two or more persons in any one occurrence.
(2) A bond of a surety company, with minimum coverages as provided in division (B)(1) above; or
(3) A certificate of the State Treasurer that the licensee has deposited with him or her $100,000 in cash or securities which may legally be purchased by savings banks or for trust funds having a market value of $100,000.
(C) Approval of security. The security offered under division (B) above shall be approved by the City Council. Surety bonds shall be approved as to form by the City Attorney. Operation of a licensed business without having on file with the city at all times effective security, as required in division (B) above, is a cause for revocation of the license.
(1992 Code, § 820:05)