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support of two or more persons in any one occurrence; or <br />(b) a bond of a surety company with minimum coverages as provided in <br />paragraph (a); or <br />(c) a certificate o f the state treasurer that the licensee has deposited with the state <br />treasurer $ 100,000 in cash or securities which may legally be purchased by savings banks or for trust <br />funds having a market value of $100,000. <br />(7) Approval of Security. Liability insurance policies required by this Chapter shall be <br />approved as to fouu by the City Attorney. Operation ofa business licensed by this ordinance without <br />having on file with the State Insurance Commissioner or the City at all times effective security as <br />required in Subdivision 2 is cause for immediate revocation or suspension of the license. <br />(8) Special Event on City Property: A liability insurance policy for a special event to be <br />held on City property shall name the City as an additional insured. <br />703.050. LICENSE FEES. <br />(1) Each application for a license shall be accompanied by a receipt for payment in full of <br />the required fee for the license. All fees shall be paid into the general find of the City. Upon <br />rejection of any application for a license, the City shall refund the amount paid. <br />(2) Every license except a temporary license shall run for a period of one (1) year from <br />July 1 of each year. A temporary on -sale license shall run for a specified period pursuant to Section <br />703.110. If a portion of the license year has elapsed when the license is granted, the license shall be <br />issued for the remainder of the year for a pro rata fee. In computing such a fee, any unexpired <br />fraction of a month shall be counted as one (1) month. <br />(3) The license fees for an on -sale restaurant intoxicating liquor license, on -sale <br />intoxicating liquor license, off -sale license, temporary on -sale license, and an on -sale 2:00 a.m. <br />intoxicating liquor license, shall be as set forth by City Council resolution. <br />703.060. INSPECTION OF PREMISES. The Council shall direct such investigation of <br />said application as it may deem necessary, and each application shall require written consent <br />permitting the representatives of any City Department to inspect and examine the place of business <br />described in the application together with all the appliances and instruments used or to be used in the <br />transaction of the business for which a license is sought, and upon receipt of such report the Council <br />shall thereafter consider the application to grant or deny the same. <br />703.070. INVESTIGATION FEE. A non- refundable investigation fee of Five Hundred <br />Dollars ($500.00) shall be submitted with each initial application for an on -sale intoxicating liquor <br />license. No investigation fee is required when the applicant has previously qualified for a 3.2 percent <br />703 -4 <br />