The term of a closing out sale permit shall not exceed thirty (30) days; provided further, that the permit may be extended for one additional period not exceeding thirty (30) days subject to the following requirements:
A. Filing a renewal application of the form designated not less than five (5) days before expiration of the original permit.
B. Inclusion of a complete list of all unsold stock which was listed on the original application, provided further, a renewal permit shall not authorize sale of any stock which was not listed in the original permit application.
C. Permittee has complied with the provision of this code and terms of the permit since its issuance.
D. Payment of the renewal permit fee as designated by resolution of council. (1962 Code § 6-5.01 et seq.)