No license to operate any taxicab shall be issued or renewed by the Mayor and it shall be unlawful to operate or permit the operation of any such taxicab, unless and until the owner of same shall deposit and maintain on deposit with the Fiscal Officer, subject to the approval of the Council, evidence of liability protection the limit of which shall not be less than one million dollars ($1,000,000) for liability imposed by law for damages on account of bodily injuries, death or property damages (other than injuries, death or property damages of the owner or taxicab driver) in any one accident resulting from the ownership, maintenance or use of each such taxicab.
(Ord. 973-09. Passed 4-12-10.)