A. No certificate of public convenience and necessity shall be issued unless there is on file with the city an insurance policy approved by the city manager whereby the owner and the driver of each of the vehicles described in the certificate are insured against liability for damage to property and for injury to or death of any person resulting from the ownership, operation or other use thereof. The policy shall be in the sum of not less than five hundred thousand dollars for personal injury or death of any one person in any single accident and one million dollars on account of personal injuries to the death of two or more persons in any one accident, and the limits on each such vehicle shall not be less than one hundred thousand dollars for damage to or destruction of property in any one accident.

B. The insurance policy shall contain an endorsement providing that the policy of insurance will not be canceled until notice in writing has been given to the city addressed to the City Manager, City Hall, 746 8th Street, Wasco, California, at least thirty days prior to the time each cancellation becomes effective.

C. The insurance policy must be issued by a solvent and responsible company admitted to do business in this state. The policy shall further provide that there shall be a continuing liability thereon, notwithstanding any recovery on the policy. If, at any time, the insurance policy is canceled by the company issuing the same or the authority of said company to do business in the state shall be revoked, the certificate holder shall replace the policy with another policy approved by the city manager. (Ord. 473 §1, 2002).