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State, by him or any agent. <br /> (3) The policy of insurance on file in the office of the <br /> Controller shall contain the following provision: "The City, <br /> through the office of the Controller, will be given fifteen <br /> (15) days , notice prior to the effective date of the <br /> cancellation or other material change of this policy. " <br /> (jj ) Sane Payment of fee prerequisite to issuance; exception: <br /> (1) No company license may be issued until the holder has <br /> paid an annual license fee of twenty five one hundred <br /> dollars ($25-0E) 100 . 04 for the right to engage in the <br /> taxicab business and fifty dollars ($50 . 00) each year for <br /> each vehicle taxicab operated under the company license . <br /> The license fees shall be in addition to any other license <br /> fees or charges established by this section or any other <br /> statute or ordinance . <br /> (2) The license fees for companies and -robes taxicabs as <br /> provided for in this subsection, shall not apply to persons <br /> having a valid certificate of public ccinven-Lence and <br /> necessity license as of the effective date of this ordinance <br /> until the time the license for such companies and vehicles <br /> taxicabs is to be renewed in the year following the adoption <br /> of this ordinance . <br /> (kk) ;5a=-Transferability. No certificate of public collv�-111�-21,.-e <br /> and rtecessity or company license issued pursuant to this section <br /> may be sold, assigned, mortgaged or otherwise transferred. <br /> (11) Same--Suspension or revocation; notice: <br /> (1) A company license issued under the provisions of this <br /> section may be revoked or suspended by the Controller <br /> pursuant to the provisions 'of section 4-16, if the holder <br /> thereof has : <br /> a. Violated any of the provisions of this section. <br /> b. Discontinued operation for more than ten (10) <br /> days . <br /> 29 <br />