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<br />state the name of the applicant, the applicant's age, with references <br />as the Council may require, the type of license applied for, the <br />business in connection with which the proposed license will operate <br />and its location, a description of the premises, whether the <br />applicant is owner and operator of the business, how long the <br />applicant has been in that business at that place, and other <br />information as the Council may require from time to time. An <br />application for an on-sale intoxicating liquor license shall be in the <br />form prescribed by the Commissioner of Public Safety and shall <br />also contain the information required in this section. The form shall <br />be verified and filed with the city. No person shall make a false <br />statement in an application. <br /> <br />B. Financial Responsibility. Prior to the issuance of any license' <br />under this ordinance, the applicant shall demonstrate proof of <br />financial responsibility as defined in M.S.340AA09, as it may be <br />amended from time to time, with regard to liability under <br />M.S.340A.801, as it may be amended from time to time. This proof <br />will be filed with the City and Commissioner of Public Safety. Any <br />liability insurance policy filed as proof of financial responsibility <br />under this section shall conform to M.S. 340A.409, as it may be <br />amended from time to time. Operation of a business which is <br />required to be licensed by this ordinance without having on file with <br />the city at all times proof of financial responsibility to include liquor <br />liability/dram shop, general liability, and workers compensation <br />insurance coverage is a cause for revocation of the license. <br /> <br />1. Liquor Liability/Dramshop. Proof of financial responsibility <br />shall be given by filing one of the following: <br /> <br />a. A certificate that there is in effect an annual <br />aggregate insurance policy for dram shop <br />insurance of not less than statutory <br />requirements per policy year to cover each <br />person, each occurrence, property damage <br />each occurrence, Joss of means of support per <br />person, loss of means of support each <br />occurrence, and policy aggregate; or <br /> <br />2. A certificate of the State Treasurer that the licensee has <br />deposited with him $100,000 in cash or securities which may <br />legally be purchased by savings banks or trust funds having <br />a market value of $100,000. <br /> <br />C. General Liability. Proof of financial responsibility shall be given by <br />filing a certificate that there is in effect for the license period an <br />insurance policy or pool providing at least $50,000 of coverage <br />because of bodily injury to anyone person in anyone occurrence, <br />$100,000 because of bodily injury to two or more persons in any <br /> <br />Page 7 of 18 <br />