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(A) If an operator is liable for any tax, penalties or interest and sells or otherwise disposes of the business, the successor operator shall notify the tax collector of the date of purchase of the hotel, timeshare rental or other lodging, at least 30 days before the date of purchase or if the decision to sell was made less than 30 days prior to actual purchase, then immediately, and shall withhold a sufficient portion of the purchase price to equal the amount of any tax, penalties or interest due until the operator produces a tax clearance certificate from the tax collector stating that no tax, penalties or interest is due. The standard form of the tax clearance certificate shall be as approved by the city attorney and maintained in the city clerk's office.
(B) If the operator does not present a receipt or tax clearance certificate within 90 days after the successor operator commences to conduct business, the successor operator shall deposit the withheld amount with the tax collector.
(C) If the successor operator fails to withhold a portion of the purchase price as required, the successor operator shall be liable to the city for the payment of the tax required to be withheld.
(`64 Code, Sec. 29-36) (Ord. No. 2469, 2736)