§ 7.80.240. Bond in lieu of comprehensive auto liability insurance—Requirements.

A.

In lieu of the comprehensive auto liability insurance required by Section 7.80.220, a taxicab operator applicant or licensee may file with the tax collector a bond in a form approved by the business license commission and executed by a corporate surety authorized to conduct business under the laws of the state of California. Such bond shall provide for continuing liability for no less than the following amounts:

1.

For one to three taxicabs authorized under the taxicab operator license, $300,000.00;

2.

For four to ten taxicabs authorized under the taxicab operator license, $400,000.00;

3.

For 11 to 20 taxicabs authorized under the taxicab operator license, $500,000.00;

4.

For 21 to 60 taxicabs authorized under the taxicab operator license, $600,000.00;

5.

For 61 to 100 taxicabs authorized under the taxicab operator license, $700,000.00;

6.

For 101 to 150 taxicabs authorized under the taxicab operator license, $800,000.00;

7.

For 151 to 200 taxicabs authorized under the taxicab operator license, $900,000.00;

8.

For over 200 taxicabs authorized under the taxicab operator license, $1,000,000.00.

B.

All bonds shall contain a provision for continuing liability thereunder for up to the full amount of the bond notwithstanding any recovery thereon, and shall contain provisions for such bond to remain in full force and effect for a period of three years after the taxicab operator terminates operation. Such bond shall contain a promise to pay all final civil judgments obtained against the applicant or licensee in any court of competent jurisdiction within 30 days of the final judgment.

C.

The tax collector shall transmit a copy of said bond to the business license commission. The amounts of such bond requirements shall be subject to review by the chief administrative officer, who shall present any recommendation for adjustment to the commission.

(Ord. 89-0086 § 3, 1989.)