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(e) Public parking facility. A fee of eighty dollars ($80.00) shall be paid for each license issued under this <br />section. <br />(f) Bond or property liability insurance: <br />(1) No license shall be issued pursuant to this section and public parking facility shall be operated <br />until and unless the licensee under this section has deposited with the Board a bond or property <br />liability insurance policy in the amount scheduled in this section. The bond or insurance policy <br />shall be with one or more adequate sureties or a surety company acceptable to the Board and <br />conditioned that the licensee will pay all final judgments rendered against him for damages arising <br />during the period such bond or insurance policy is in force from the operation of the motor vehicle <br />in such public parking facility, or from loss, damage, theft or conversion of any motor vehicle. <br />(2) Any person who sustains damage by reason of the violation of any provision of such bond or <br />insurance by a licensee may institute suit upon the same and recover any judgment that may be <br />obtained by reason of such suit. <br />(3) The bond or insurance policy shall meet the following requirements: <br />a. It shall contain a provision that it shall continue in force until ten (10) days after written notice <br />of cancellation has been delivered to the Board of Public Works or until the license of the <br />applicant has been revoked. <br />b. The obligation of the bond or insurance policy shall not exceed the principal amount of the <br />bond. <br />c. The bond or insurance policy shall be in the following amounts: <br />1. Where the licensee conducts one (1) lot, ten thousand dollars ($10,000.00). <br />2. Where the licensee conducts two (2) lots, fifteen thousand dollars ($15,000.00). <br />3. Where the licensee conducts three (3) lots, the sum of twenty thousand dollars <br />($20,000.00). <br />4. Where the licensee conducts four (4) or more lots, the sum of twenty-five thousand <br />dollars ($25,000.00). <br />(g) Investigation of applicants; issuance of license: <br />(1) If, after investigation, the Board of Public Works determines that the applicant for a license meets <br />the requirements of the section, the Board shall report the same to the Controller. <br />(2) The Controller shall issue to the applicant a license for a public parking facility upon payment of <br />the proper fee. <br />(h) Claimchecks or tags: <br />(1) At the time of accepting a motor vehicle for storage or parking in any public parking facility the <br />person conducting the lot, or his agent, servant or employee, shall furnish to the person parking <br />his motor vehicle a distinctive check. <br />(2) The check shall be numbered to correspond to a coupon placed upon such motor vehicle and <br />contain the name and address of the place and the owner operating such public parking facility. <br />Upon such check shall be written, printed, cut out or stamped the date, and, if parking is charged <br />for on an hourly basis, the time of acceptance of such motor vehicle. <br />(3) The above provision shall not be applied where cars are stored on a monthly fee basis. <br />(i) Rate changes: <br />(1) No licensee under this section shall make any charge for storing any motor vehicle in a public <br />parking facility in excess of that set forth in his application for a license, unless he has: <br />a. Notified the Board of Public Works in writing of the change. <br />b. Posted signs showing such change in the same manner as set forth in subsection (b). <br />(j) Claims against lot; reports; liability after hours: