There are hereby established two classes of taxicab or limousine
licenses, to be known as "taxicab or limousine driver's license"
and "taxicab or limousine owner's license," respectively.
A taxicab or limousine driver's license shall entitle the
person named therein to operate within this Borough any taxicab or
limousine duly licensed hereunder until said license either expires
or is surrendered, suspended or revoked, and such license shall not
be transferable.
A taxicab or limousine owner's license shall entitle the
taxicab or limousine therein described to be operated in this Borough
by a driver duly licensed hereunder until said license either expires
or is surrendered, suspended or revoked, and such license shall not
be transferable except to another taxicab or limousine of the same
owner as hereinafter provided.
Any license issued pursuant to the terms of this chapter shall
expire at 12:00 midnight of December 31 of the year in which it is
issued unless sooner surrendered, suspended or revoked.
The number of any licenses of either class at any one time issued
and outstanding shall not exceed such number as the Borough Council
shall, in its discretion from time to time, deem sufficient to adequately
serve the public necessity and convenience.