The Mayor shall issue the license provided for in Section 729.04 when, after an investigation and a public hearing, he is satisfied that:
(a) The applicant intends to discontinue his business in the City on the date specified in his application;
(b) The applicant's inventory is not out of proportion to the stock normally carried by such applicant;
(c) The applicant has not purchased or otherwise acquired goods, wares or merchandise for the purpose of conducting a going-out-of-business sale;
(d) The goods, wares or merchandise to be offered for sale are those of a bona fide merchant of the City;
(e) The applicant has not made any misrepresentation on his application of the goods to be sold and will not do so in the course of such sale; and
(f) The applicant has complied with the provisions of this chapter in all other respects not specifically set forth in this section.
(Ord. 29-75. Passed 8-20-75.)