Before a future establishment begins to sell memberships or other rights to services in the establishment, the owner shall pay to the city a nonrefundable license fee of $150. The license fee shall be accompanied by such information as the Mayor shall by regulation require, including but not limited to the general background of the future establishment with disclosure of past litigation involving the owners in the future establishment, the nature of the services to be provided by the future establishment, the full range and schedule of membership and other rights to services to be presold, scheduled opening date and planned locations of the future establishment, and a subscriber warranty as set out in § 13-3-3-5. The Mayor shall have the right to inspect the books and records of the future establishments. Future establishments shall keep accurate books and records reflecting sales of future services and shall report such information to the Mayor as he may periodically require to insure that such sales do not exceed the guarantee amount as set out in § 13-3-3-5.
('74 Code, § 10-5-4) (Ord. 102-1981)