Explanation
BACKGROUND: This legislation amends Section 587.18 of the Columbus City Codes, 1959, which deals with Bonds and Liability Agreement in the License Section of the Code. The purpose of this legislation is to insert language inserted regarding financial liability and custodial accounts. It is necessary for the Department of Public Safety, Division of Support Services, to revise and amend a section of The Columbus City Codes, 1959, adding the option to place money in a custodial account as approved by the City, as well as adding the requirement for the cash obligations to remain in a custodial account approved by the City. This code change was approved by the Vehicle for Hire board.
FISCAL IMPACT: There is no funding required for this legislation.
Title
To amend Section 587.18 of the Columbus City Codes, 1959 by adding an option to place money in a custodial account as approved by the City , and requiring the cash or obligations to remain in a custodial account approved by the City.
Body
WHEREAS, there is a need to make changes in the Columbus City Codes, Section 587.18, Bonds-Liability Agreement with the License Section of the Code, adding an option to place money in a custodial account as approved by the City , and requiring the cash or obligations to remain in a custodial account approved by the City, and
WHEREAS, the Columbus City Codes does not currently address the option of placing money in a custodial account nor requiring the cash or obligations to remain in a custodial account approved by the City, and
WHEREAS, it is necessary to make this change so that the License Section can operate more efficiently and effectively; now, therefore
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS
SECTION 1. That Section 587.18 of the Columbus City Codes, 1959, be and is hereby amended to read as follows:
587.18 - Bonds-Liability agreement.
(b) Evidence of liability protection may be furnished by filing with the dire...
Click here for full text