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� . _ <br /> bonds , when approved by the proper City officers, shall be <br /> deposited with the City Clerk. <br /> (d) All such bonds shall be conditioned as follows: <br /> (i) The licensee shall obey the law relating � <br /> to the licensed business. <br /> ( ii) That the licensee will pay to the City <br /> when due all taxes, license fees, penalties, <br /> and other charges provided by law. <br /> (iii) That in the event of violation of any law <br /> relating to the business for which the <br /> license has been granted for the sale of <br /> liquor, the bond shall be forfeited to the <br /> City. <br /> (e) All such bonds shall provide that no cancellation for <br /> any cause can be made either by the bonding company or the <br /> applicant, without said person first giving 30 days written <br /> notice to the City, addressed to the City Manager, of intention <br /> to cancel the bond. <br /> 40.075. Liability Insurance. <br /> (a) Prior to the issuance of a liquor license, the applicant <br /> shall file (1) a public liability insurance policy and (2) a liquor <br /> liability policy covering liability under the provisions of <br /> Minnesota Statutes, Section 340.95. Each of such policies shall <br /> provide coverage of a least $100,000 and $300,000. <br /> (b) Such policies shall provide that no cancellation for <br /> any cause shall be made by either the insured or the insurer <br /> without first giving written notice of such cancellation to the <br /> City at least 30 days prior to the effective date of cancellation. <br /> (c) Such policies of insurance shall further provide that <br /> no payment of any claim by the insurance company in any manner <br /> decrease the coverage provided for in respect to any other <br /> claim or claims brought against the insured or insuring company. <br /> (d) Such policies shall be subject to approval of the City <br /> Attorney as to form and execution and shall be issued by companies <br /> who are duly licensed to do business in the State of Minnesota. <br /> Such policies, when approved by the proper City officials, shall <br /> be deposited with the City Clerk. <br /> 40.085. Consum tion of Li uor Prohibited on Licensed <br /> Premises After Legal Hours. No intoxicating liquor sha 1 be drunk <br /> or consumed on the licensed premises except during the hours of <br /> operation permitted under Section 40.080. Every room, place or <br />