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license period an insurance policy or pool providing at least <br />$100,000 of coverage because of bodily injury to any one person <br />in any one occurrence, $300,000 because of bodily injury to two <br />or more persons in any one occurrence, $10,000 because of injury <br />to or destruction of property of others in any one occurrence, <br />$100,000 for loss of means of support of any one person in any <br />one occurrence, and $300,000 for loss of means of support of two <br />or more persons in any one occurrence; or <br />(b) a bond of a surety company with minimum coverages <br />as provided in paragraph (a); or <br />(c) a certificate of <br />licensee has deposited with the <br />or securities which may legally <br />for trust funds having a market <br />702.040. LICENSE FEES. <br />the state treasurer that the <br />state treasurer $300,000 in cash <br />be purchased by savings banks or <br />value of $300,000. <br />(1) Each application for a license shall be accompanied by <br />a receipt for payment in full of the required fee for the <br />license. All fees shall be paid into the general fund of the <br />City. Upon rejection of any application for a license, the <br />Deputy City Clerk shall refund the amount paid. <br />(2) Every license except a temporary license shall run for <br />a period of one (1) year from July 1 in each year. If a portion <br />of the license year has elapsed when the license is granted, the <br />license shall be issued for the remainder of the year for a pro <br />rata fee. In computing such a fee, any unexpired fraction of a <br />month shall be counted as one month. A temporary license shall <br />be issued for a specific period in which a special event to <br />which the sale is incident is being held and such period shall <br />be stated on the license. <br />(3) The annual fee for a nonintoxicating malt liquor <br />license is $80.00 per year. <br />702.050. APPROVAL OR DENIAL OF LICENSE APPLICATION. <br />(1) The City Council shall investigate all facts set out <br />in the application. The investigation shall include an <br />inspection of the premises by the local Fire Chief and a search <br />to determine whether or not the applicant has a police record. <br />After such investigation and hearing, the Council shall grant or <br />refuse the application in its discretion. <br />(2) Each license shall be issued to the applicant only and <br />shall not be transferrable to another holder. Each license <br />shall be issued only for the premises described in the <br />-5- <br />Page 62 <br />