Upon receipt of an application, the city treasurer shall cause such investigation as he deems necessary to be made of the facts contained therein. No license shall be issued if any one or more of the following facts or circumstances are found to exist:
(A) The applicant was granted more than one license hereunder for a "going out of business" sale within 2 years preceding the date of the filing of the application.
(B) The applicant has heretofore been convicted of violation of this chapter or has had a license issued to him pursuant to this chapter revoked within a 5-year period immediately preceding the date of the filing of the application.
(C) The inventory includes goods, wares, or merchandise purchased by the applicant or added to his stock in contemplation of the sale and for the purpose of selling the same at the sale. For the purpose of this division, any unusual addition to the stock of such goods, wares, and merchandise made within 60 days prior to the filing of the application shall be prima facie evidence that the addition was made in contemplation of the sale and for the purpose of selling the same at the sale.
(D) The applicant, in the ticketing of the goods, wares, and merchandise to be offered at the sale, has misrepresented the original retail price or value thereof.
(E) Any representation made in the application is false.
('73 Code, § 110.24)