(a) No license required by Section 721.02 shall be issued to a vendor falling within the purview of Section 335.01 of the Traffic Code unless a certificate showing that such vendor is carrying the following minimum amounts of insurance is furnished to the Village: public liability insurance in an amount of not less than five hundred thousand dollars ($500,000) for injuries, including those resulting in death, resulting from any one occurrence and an account of any one accident; and property damage insurance in an amount of not less than twenty-five thousand dollars ($25,000) for damages on account of any one accident or occurrence.
(b) Certificate shall contain an agreement signed by the insurance company that prior to modification, cancellation or termination of the subject policy, written notice shall be sent to the Village Clerk by such insurance company.
(Ord. 259-1984. Passed 5-14-84.)