3-5B-9: LIABILITY INSURANCE REQUIRED:

   A.   No permit shall be issued or continued in operation unless and until the owner of the vehicle for hire shall have furnished to the city clerk an insurance policy or certificate of insurance issued by an insurance company licensed to do business in the state of Iowa, providing at least three hundred thousand dollars ($300,000.00) of liability insurance.

   B.   The insurance policy or certificate of insurance referred to in this section shall provide that it cannot be canceled or terminated until ten (10) days' notice of such cancellation or termination shall have been given by registered mail to the city clerk. The certificate of insurance must accompany the application required in section 3-5B-5 of this article.

   C.   The cancellation or other termination of any insurance policy issued in compliance with this section shall automatically revoke and terminate the permit and all licenses issued for the vehicle for hire business and the vehicles covered by the insurance policy, unless another policy, complying with this section, shall be provided and in effect at the time of the cancellation or termination. The city clerk shall immediately issue written notification of the revocation of the permit and all licenses for the vehicle for hire business and the vehicles covered by insurance which is canceled or terminated.

   D.   The holder of a permit shall hold the city harmless for any liability resulting from the operation of the holder's vehicle for hire business. (Ord. 4775, 6-13-2005)

3-5B-10: LICENSES AND FEES:

No permit shall be issued or continued in operation unless its holder has paid to the city clerk an annual license fee of one hundred dollars ($100.00) for the right to engage in the vehicle for hire business and an annual license fee of twenty five dollars ($25.00) for each vehicle operated under a permit. The license fee shall be for the year, starting with May 1 and continuing through April 30 of the following year; shall be the same amount for each annual renewal of these licenses; and shall be in addition to any other license fees or charges established by proper authority and applicable to the holder or the vehicle or vehicles under the holder's operation and control. (Ord. 4775, 6-13-2005)

3-5B-11: TRANSFER OF PERMIT:

No permit shall be sold, assigned, mortgaged or transferred without the purchasing party going through the permit procedure as set out in this article. (Ord. 4775, 6-13-2005)