(A) No license shall be issued and no taxicab shall be operated upon any street, avenue, or public highway in the city until there shall have been filed with the Clerk-Treasurer a bond, indemnity undertaking, or paid-up policy of insurance executed by a company legally authorized to execute this type of instrument in this state, running for the year of the license to be issued to the applicant as provided by this chapter.
(B) When the filings as mentioned above have been made with the Clerk-Treasurer, that office shall then transmit the application and applied papers to the Board of Public Works and Safety who shall have the exclusive right to issue or deny the application; and in approving or denying the application the Board may require the applicant to submit proof, to the Board’s satisfaction, that the applicant is financially able to render taxicab services as applied for; and the Board shall require the applicant to furnish and file proof with the Board, and to its approval, of financial responsibility for each vehicle in the amount of $100,000 per person, $150,000 per occurrence, bodily injury, and $10,000 for property damage, and, further, the Board shall determine before ordering the issuance of such a license that there is a public necessity for this service in the city and that the applicant is fully qualified to render this service.
(1987 Code, § 4-56) (Ord. 9, 1986, passed 6-9-1986)