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FINANCIAL MANAGEMENT DEPARTME T <br /> #2007 - 80 <br /> DATE: December 12, 2007 <br /> TO: Honorable Mayor and City Council <br /> FROM: Steve Ga , City Manager <br /> Ron Ne e Finance Director <br /> SUBJECT: Taxicab I urance Requirements <br /> Attached you will find a copy of an Ordinance that changes the in urance requirements to <br /> hold a taxicab license. We are amending the ordinance to reduce the insurance <br /> reguirements from $1,000,000 to $250,000, which is in line wit what other cities are <br /> doing. Both taxicab companies currently have $250,000 in liabilit insurance. <br /> Also, because we still need to address the amount of insura ce needed to provide <br /> contractual services for Operation Uplift, we will work with ecatur Public Transit <br /> System to find a solution that protects the City, yet does not place an unnecessary <br /> hardship on the taxicab companies. We will keep the City C uncil informed of any <br /> action taken. <br />