725.07 ISSUANCE OF LICENSE; CONDITIONS THERE OF.

   When it appears to the Director of Finance that all the statements in the application are true and that the proposed sale is of the character represented therein, that the application is in full compliance with the terms and conditions of this chapter, and that the required license fee has been paid and the required bond filed, the Director of Finance shall issue a license to the applicant authorizing the applicant to advertise and conduct the sale as described in the application, subject to the following conditions:

   (a)    The sale shall be held at the place named in the application and by the particular licensee for a period of not more than thirty consecutive calendar days (Sundays and legal holidays excluded), next following the date specified in the license.

   (b)    Only the goods, wares and merchandise included in the inventory attached to the application shall be sold at the sale.

   (c)    Upon the commencement of the sale and for its duration, the license issued hereunder shall be prominently displayed in the place of sale by the licensee.

   (d)    The licensee shall keep suitable books during the sale, at the location at which the sale is conducted, in which shall be made daily entries showing:

      (1)    Dollar amount of retail sales.

      (2)    Dollar amount of mark-downs. (Without limiting the meaning of the term "mark-down", the difference between retail and wholesale price of goods whole-saled by licensee shall be considered a mark-down).

      (3)    Dollar amount, both retail and cost price of goods on back order received.

      (4)    Dollar amount of wholesale sales.

            Copies of such daily entries shall be sent to the Director of Finance weekly and all books of licensee shall be open for inspection by the Director of Finance or his duly authorized representatives during business hours. (Ord. 5955. Passed 5-21-58.)