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Ordinance 925 <br />Page 12 <br /> <br /> <br />Subd. 1. Application: Unless otherwise excepted by this Section, each application for an <br />intoxicating liquor or wine license shall be accompanied by one (1) of the following <br />proofs of financial responsibility: (Amended, Ord. 843, 5-20-10) <br /> <br />a. Insurance: A certificate that there is in effect an insurance policy issued by an insurer <br />required to be licensed by Minnesota Statutes, Section 60A.07, subdivision 4 or by an <br />insurer recognized as an eligible surplus line carrier pursuant to Minnesota Statutes, <br />Section 60A.206 or pool providing coverage of at least: (Amended, Ord. 843, 5-20-10) <br /> <br />(1) Fifty thousand dollars ($50,000.00) for bodily injury to any one (1) person in any <br />one (1) occurrence and subject to the limit of one (1) person; (Amended, Ord. <br />843, 5-20-10) <br /> <br />(2) One hundred thousand dollars ($100,000.00) for bodily injury to two (2) or more <br />persons in any one (1) occurrence; (Amended, Ord. 843, 5-20-10) <br /> <br />(3) Ten thousand dollars ($10,000.00) for injury to or destruction of property of others <br />in any one (1) occurrence; (Amended, Ord. 843, 5-20-10) <br /> <br />(4) Fifty thousand dollars ($50,000.00) for loss of means of support of any one (1) <br />person in any one (1) occurrence and, subject to the limit for one (1) person; and <br />(Amended, Ord. 843, 5-20-10) <br /> <br />(5) One hundred thousand dollars ($100,000.00) for loss of means of support of <br />two(2) or more persons in any one (1) occurrence. (Amended, Ord. 843, 5-20-10) <br /> <br />b. Bond: A bond of a surety company with minimum coverages as provided in <br />subdivision l(a) above; or (Amended, Ord. 843, 5-20-10) <br /> <br />c. Commissioner of Management and Budget Certificate: A certificate of the State <br />Commissioner of Management and Budget that the licensee has deposited with the <br />Commissioner of Management and Budget one hundred thousand dollars $100,000.00) <br />in cash or securities which may legally be purchased by savings banks or for trust funds <br />having a market value of one hundred thousand dollars ($100,000.00). (Amended, <br />Ord. 843, 5-20-10) <br /> <br />Subd. 2. Approval by Council: The proof of financial responsibility shall be approved by <br />the Council and, when required, by the Commissioner. The City Attorney shall approve <br />the form of the financial responsibility. (Amended, Ord. 843, 5-20-10) <br /> <br />Subd. 3. A certificate of insurance, bond or certificate from the Commissioner of <br />Management and Budget as set forth in subdivision 1 are required for temporary on- <br />sale intoxicating liquor licenses. The insurance policy or bond must have the following