(A)   No license for the operation of any taxicab within the city shall be granted until the person applying for the license has secured from the Board of Public Works and Safety a certificate certifying that public convenience and necessity require the operation of the taxicab for hire.
   (B)   In determining public convenience and necessity, the Board of Public Works and Safety shall consider the number of taxicabs now in operation in the city, and shall, in the issuance of licenses, prefer those now operating or owning taxicabs.  In addition, the Board shall consider whether the demands of the public require the additional taxicab service, the financial responsibility of the applicant, the number, kind, type, equipment, and schedule of rates proposed to be charged, traffic conditions on the streets of the city, whether the additional taxicab service will result in a greater hazard to the public, and other relative facts that the Board may deem advisable or necessary.  The decision and judgment of the Board on the question of public necessity and convenience shall be conclusive.
(`81 Code, § 119.11)  Penalty, see § 10.99