A. Certified Copy Of Insurance Required; Limits Of Liability: Before any license is issued for any taxicab or jitney, the owners thereof shall be required to file with the city clerk a certified copy of a policy of insurance, executed by an insurance company authorized to do business within the state of Idaho, insuring against any loss or damage which may result to any person or persons from the operation of said taxicab, provided the limits of liability in such policy of insurance shall be as follows:
1. Property Damage: Not less than fifty thousand dollars ($50,000.00).
2. Personal Injury: One hundred thousand dollars ($100,000.00) for injuries to one person, and three hundred thousand dollars ($300,000.00) for injuries to two (2) or more persons.
3. Uninsured Motorist Coverage: As required by state law.
B. License Terminates Upon Cancellation Of Insurance: The license to operate such taxicab or jitney shall expire of itself or terminate upon the cancellation of the required insurance for failure to pay premiums or for any other reason, and no license shall be granted or be effective unless the taxicab or jitney for which said license is requested is fully covered by insurance as hereinabove specified. (Ord. 3-14, 1995)