§ 5.16.050  FIRE, WRECK OR BANKRUPTCY SALES.
   (A)   Every person conducting, carrying on or managing a fire sale, wreck sale or bankruptcy sale shall pay a license tax in an amount to be set by resolution of the Town Council.
   (B)   (1)   For the purpose of this section, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
         BANKRUPTCY SALE.  The sale of goods, wares and merchandise which have been previously purchased from a trustee or receiver in bankruptcy, or trustee or receiver in insolvency, or trustee for the benefit of creditors.
         FIRE SALE or WRECK SALE.  The sale of goods, wares and merchandise salvaged from a fire, wreck or other calamity.
      (2)   No license shall be required for the sale of merchandise salvaged from any fire, wreck or other calamity occurring in the town.
(Prior Code, § 5.16.070)  (Ord. 518, passed - -1983)