Amending Chapter 4, to revise provisions for licensing of taxicab companies, vehicles and drivers

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covering accidental bodily injury, including death, to any member of the public in an amount of not less than rte three hundred thousand dollars ($300,000.00) for all public liability from any one occurrence. frail The policy shall be updated annually and be on file with the office of the Controller before any issuance or renewal of a com~any license. (2) The policy of insurance shall insure the owner and iris agent against liability for the payment of any final judgment, less any deductible amounts, or retained limits not in excess of one thousand dollars ($1.000.001 that may be rendered against the owner arndfor his agent for in'u or damages to the property or person of others or for damage for the wrongful death of others, resulting from any accident or collision for which the owner arndfor his agent will be liable on account of any act of negligence in the operation of the taxicab, or which may arise or result from any violation of any of the provisions of this article or the laws of the State, by him or any agent. (3) The policy of insurance on file in the office of the Controller shall contain the ~~ following provision: The City, through the office of the Controller, will be given fifteen (15) days' notice prior to the effective date of the cancellation or other material change of this policy." (jj) Same - Payment offee prerequisite to issuance; exception: (1) No eertifreafie company license shy may be issued until the holder has paid an initial annual license fee of twenty-five dollars f $569:98] 25.00 for the right to engage in the taxicab business and ferty fi dollars ($6:99) ($50.00) each year for each vehicle operated under the com~anv license. The license fees shall be in addition to any other license fees or charges established by this section or any other statute or ordinance. (2) The imtiR~ license fees for companies and vehicles 0569-99j, as provided for in this subsection, shall not apply to persons na~an having a valid certificate of public convenience and necessity as of the effective date of this ordinance until the time the license for such companies and vehicles is to renewed in the vear following the adoption of this ordinance. (kk) Same -Transferability. No certificate of public convenience and necessity oror company license may be sold, assigned, mortgaged or otherwise transferred. (11) Same -Suspension or revocation; notice: (1) A certif'reate company license issued under the provisions of this section maybe is