(A) The maximum aggregate retail value of all prizes or merchandise awarded by a license in a single raffle shall be $150,000 unless the applicant follows the procedure as established in division (E) below.
(B) The maximum retail value of each prize awarded by a licensee in a single raffle shall be $150,000 unless the applicant follows the procedure as established in division (E) below.
(C) The maximum price which may be charged for each raffle chance issued or sold shall be $250.
(D) The maximum number of days during which chances may be issued or sold for any raffle shall be 364 days.
(E) Any applicant requesting a license for a raffle in which the maximum aggregate retail value of all prizes or the maximum retail value of each individual prize will exceed $150,000 must receive prior approval of the Village Board of Trustees. The application for a raffle in which prizes exceed the value of $150,000 shall be made and investigated as outlined in this chapter. Following the investigation the Village President shall cause the application to be placed on the meeting agenda for action by the Board of Trustees prior to the issuance of said license.
(Ord. 1625, passed 7-19-10)