Any licensee under this chapter, holding a valid unexpired license, upon voluntary disposition of the business for which such license was issued, shall be entitled to a refund of an amount equal to 75% of the unexpired pro-rated portion of the year for which the license was issued, provided:
(A) The licensee shall have made a complete and bona fide sale and transfer of the business for which the license shall have been issued; and
(B) The new owner or transferee of the business shall have promptly applied for and obtained a new license, of the same class, for the balance of the year, for the conduct of the same or similar business and at the same location previously conducted by the original licensee. Application for such refund must be made by the original licensee, in writing, within six months of the date of such transfer of the business and shall state, under oath, that the conditions herein mentioned have been fully met and shall be submitted to the Mayor for approval, who shall approve the same for payment of such refund if the conditions above mentioned have been met.
(Am. Ord. passed 7-11-60)