The applicant to whom a certificate shall have been awarded by the city council as
aforesaid shall deliver to the director of finance a policy of insurance executed
by a company duly authorized under the laws of the State of California to be an insurance
business, by the provisions of which policy the said company promises and undertakes
to pay in full all claims for damages to persons or property resulting from the operation
of the wheelchair buses referred to in said application, provided that the maximum
amount for which liability shall be assumed for injury to or for death of one person
in any one accident shall be not less than three hundred thousand dollars ($300,000.00),
and for injury to or death of more than one person in any one accident shall be not
less than five hundred thousand dollars ($500,000.00), and the maximum amount for
which liability shall be assumed for injury to or destruction of property in any one
accident shall be not less than fifty thousand dollars ($50,000.00).
(Ord. No. 76-70, § 3, 12-20-76)
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