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ORDINANCE 04 - 05 <br />CITY OF ELK RIVER <br /> <br />AN ORDINANCE OF THE CITY OF ELK RIVER AMENDING <br /> SECTION 6-58 OF THE CITY CODE OF ORDINANCES <br /> <br />Underlined text is proposed for insertion. <br /> <br />The City Council of the City of Elk River does hereby ordain as follows: <br /> <br />Sec. 6-58. Liability insurance. <br /> <br />Req,imd. No beer, wine, or intoxicating liquor license shall be issued, maintained, or <br />renewed unless and until the applicant has provided the proof of financial responsibility <br />with regard to liability imposed by Minn. Stats. ~ 340A.801. The issuing authority must <br />submit to the commissioner the applicant's proof of financial responsibility. The <br />requirement for proof of financial responsibility shall be fulfilled by filing the following: <br /> <br />(1) A certificate that there is in effect an insurance policy or pool providing minimum <br /> coverages of: <br /> <br />One hundred thousand dollars because of bodily injury to any one person in any one <br />occurrence, and $300,000.00 because of bodily injury to two or more persons in any one <br />occurrence, and in the amount of $100,000.00 because of injury to or destruction of <br />property of others in any one occurrence; and <br /> <br />One hundred thousand dollars for loss of means of support of any one person in any <br />one occurrence, and, subject to the limit of one person, $300,000.00 for loss of means of <br />support of two or more persons in any one occurrence (an annual aggregate policy limit <br />for dram shop liability of not less than $300,000.00 per policy may be included in the <br />policy provision); or <br /> <br />(2) A bond of a surety company with minimum coverages as provided in subsection (a) (1) <br /> of this section; or <br /> <br />(3) <br /> <br />A certificate of the state treasurer that the licensee has deposited with him $100,000.00 in <br />cash or securities which may legally be purchased by savings banks or for trust funds <br />having a market value of $100,000.00. <br /> <br />Passed and adopted by the City Council of the City of Elk River this 1Zh day of April, 2004, <br />and that this ordinance shall take effect upon publication as provided by law. <br /> <br />Stephanie Klinzing, Mayor <br /> <br />04-005 <br /> <br /> <br />