A. The following limitations shall apply as to prizes, merchandise and chances in connection with any raffle conducted with the Village:
1. The aggregate retail value of all prizes or merchandise awarded by a licensee in connection with a single raffle shall not exceed one hundred thousand dollars ($100,000.00).
2. The maximum retail value of each prize awarded by a licensee in a single raffle shall not exceed one hundred thousand dollars ($100,000.00).
3. The maximum price which may be charged for each raffle chance issued or sold shall not exceed one hundred dollars ($100.00).
4. The maximum number of days during which chances may be issued or sold shall not exceed three hundred sixty five (365) days. (Ord. 05-16, 7-5-2016)