A. The number and type of buses to be operated by said owner;

B. A complete description by streets and street intersections of each and every route over which the owner proposes to operate said buses;

C. In addition, each owner shall file with the city recorder a policy of public liability insurance in a sum not less than $50,000 covering each and every bus to be operated by said owner with respect to accidental injuries to or death of any person, and a policy of property damage insurance in the sum of five thousand dollars covering each and every bus to be operated by said owner with respect to the damage to the property of any person. Such insurance policies shall be for the indemnification of the patrons of such owner and of the public against damage or injury for which such owner may be liable by reason of the operation of any bus owned or operated by such owner. Each such policy shall be issued by an insurance company or reciprocal insurance exchange authorized to transact business as such within this state and in accordance with the policies, forms and manuals on file with the insurance commissioner. No policy furnished under the provisions of this chapter may be canceled or otherwise terminated at any time prior to its expiration until the insurance company or reciprocal insurance exchange which executed the same has filed with the city recorder a notice of cancellation; such cancellation to be effective not less than 15 days from the date of receipt of such notice by the city recorder, and no agreement between the parties to such policy shall operate to avoid this restriction upon cancellation. (Ord. 2179 §2 (part), 1946).