(a) In all cases where a closing-out sale is held under the provisions of Section 1268 of this Article, an inventory of the stock of merchandise on the premises which is to be sold at said closing-out sale must be made and submitted to the Chief of Police at the time of the filing of the application for a permit to conduct the sale.
The inventory required by this Section must show the items of merchandise contained in the stock to be offered for sale on the premises at said closing-out sale, and the said applicant must make and subscribe an oath to be attached to the inventory that said inventory contains a true and itemized account of all property to be sold at said closing-out sale, that all of said merchandise so inventoried has been located on the premises for not less than 90 days immediately preceding the filing of said application, and that the same is a bona fide closing out of the business. No property or merchandise shall be sold under the provisions of Section 1268 of this Article except those items shown in the inventory provided for herein.
(b) Upon termination of said closing-out sale, whether at or prior to the termination of the permissible period prescribed in the permit issued under the provisions of Section 1268 of this Article, the permittee shall forward to the Chief of Police by mail or otherwise an itemized account of all sales made during said period. This itemized statement shall be subscribed by the permittee, and it shall be unlawful for any permittee to submit any false or fraudulent itemized statement to the Chief of Police.
(Added by Ord. 8032, Series of 1939, App. 7/22/53)