At the annual meeting prescribed in § 112.32, the Town Council shall determine the total number of taxicabs the public convenience and necessity require for the town. If the Town Council shall determine that certificates are outstanding in excess of the number of taxicabs required, it shall order the number reduced, and the reduction shall be distributed pro rata, as nearly as practicable, between the holders of certificates then outstanding. If the Town Council determines that the public convenience and necessity requires that certificates be issued for an additional number of taxicabs, the Town Council shall have the power to grant certificates reflecting the increase to one or more new applicants, to one or more existing owners, or to both, with full discretion, as the Town Council determines is required by the public safety, welfare, convenience and necessity.
(Ord. passed 2-1-99)