A potential buyer or other transferee of a business for which the city council has issued a certificate of public convenience and necessity must make application to the city for a new certificate pursuant to section 12.03.02 of this article. The holder and transferor of the certificate must file an affidavit of intention to surrender and cancel the existing certificate and licenses conditionally upon and concurrently with the consummation of sale and issuance of a new certificate and licenses in the name of the transferee.
If the transferee meets the requirements set forth herein for the issuance of a certificate of public convenience and necessity, the council shall issue a new certificate to the buyer and, concurrently herewith, shall cancel the transferor's certificate.
The transferor may not operate a taxicab covered by the certificate in the city until a certificate has been issued to the transferor. (Ord. 953, 3-15-1989)