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• <br /> 1 Section 7: LICENSE FEE. The license fees are fixed in the amounts shown <br /> 2 in the following schedule and shall be payable annually in advance: <br /> 3 <br /> For-hire vehicle business $100 per year per company <br /> 4 <br /> For-hire vehicle driver's license fee $30 for initial license and <br /> 5 $15 per year for renewal <br /> 6 Taxicab stand license $100 per stand for initial <br /> license and $50 per year <br /> 7 per stand for renewal <br /> 8 <br /> The fees set forth in this schedule may be changed hereinafter by resolution of the City <br /> 9 <br /> Council. <br /> 10 <br /> Section 8: LIABILITY INSURANCE. Prior to the issuance of any for-hire <br /> 11 <br /> vehicle business license, every applicant shall file with the City Clerk the policy or <br /> 12 <br /> policies of public liability insurance, approved as to sufficiency by the City Clerk, and <br /> 13 <br /> as to form by the City Attorney, issued by an insurance company or companies <br /> 14 <br /> authorized to do business in the state providing indemnity for or protection to the City <br /> 15 <br /> as well as providing public liability insurance coverage for each and every vehicle for <br /> 16 <br /> hire owned, operated and/or leased by the applicant for injury to or death of persons, <br /> 17 <br /> passengers, or otherwise, in accidents resulting from any cause by which the owner of <br /> 18 <br /> said vehicle would be liable on account of any liability imposed upon him by law, <br /> 19 <br /> regardless of whether the vehicle for hire was being driven by the owner or his agent, <br /> 20 <br /> such insurance shall be in the sum of one hundred thousand dollars ($100,000) for the <br /> 21 <br /> injury or death of one person, or three hundred thousand dollars ($300,000) for the injury <br /> 22 <br /> or death of more than one person in any one accident, and fifty thousand dollars <br /> 23 <br /> ($50,000) for property damage. <br /> 24 <br /> Every such policy of insurance shall continue to the full amount thereof <br /> 25 <br /> notwithstanding any recovery thereon and shall provide that the liability of the insurer <br /> 26 <br /> shall not be affected by the insolvency or bankruptcy of the insured. Each insurance <br /> 27 <br /> policy required hereunder shall extend for the period covered by the license applied for <br /> 28 <br /> and the insurer shall be obliged to give not less than ten days written notice to the City <br /> 29 Clerk in the event of any change or cancellation. <br /> 30 <br /> 31 <br /> 32 -4- <br />