A. Upon application being filed with the city clerk, and upon payment of an investigation fee in the amount as now or hereafter may be required by this chapter, the local liquor control commissioner may issue a license to the purchaser of an established licensed business as a going concern. In case the business sold, or proposed to be sold, has in fact no goodwill or other value as a going concern, in addition to the value of its physical assets, such application shall be rejected. Any such sale shall include all furniture, fixtures, and equipment used in such business or on such premises or place of business for sale, offering for sale or dispensing of alcoholic liquor.
B. Such application must be for exactly the same class of license as that held by the seller, and such application shall be only for the same location as the previously licensed business.
C. Any such purchaser shall make application for the issuance of a new license thereto, and in such application, he shall state the actual facts in respect to his purchase of such business. Such application must be accompanied by a letter, signed and notarized by the current licensee, evidencing his intent to relinquish his license, should the applicant's request for a license be granted. The applicant shall also complete an application blank and furnish the information and make the statements required of any other licensee under this chapter.
D. Such application shall be investigated and approved or rejected as in the case of applications for an original license, and if approved, a license shall be issued to such purchaser, and the license of the prior licensee terminated upon payment to the city clerk of the license fee then due. Such license fee, if received after commencement of any semiannual period, shall be prorated to include the month in which said license is issued.
E. Upon prior application after approval of the transfer of the license and payment of the license fee by the purchaser of said established business, the holder of an expiring license may make application, within sixty (60) days of the issuance of the new license, for refund of that portion of the annual or semiannual license fee paid. No refund shall be paid for the month within which the new license is issued, nor shall any refund be made of more than nine (9) months in any annual period or for more than three (3) months in any semiannual period. (Ord. 06-87, 11-2-1987)