Upon receipt of an application, the Director of Finance shall cause such investigation as he deems necessary to be made of the facts contained therein. No license shall be issued if any one or more of the following facts or circumstances are found to exist:
(a) That the applicant was granted more than one license hereunder for a going-out-of-business sale within two years preceding the date of the filing of the application.
(b) That the applicant has heretofore been convicted of violation of this chapter or has had a license issued to him pursuant to this chapter revoked within a five year period immediately preceding the date of the filing of the application.
(c) That the inventory includes goods, wares or merchandise purchased by the applicant or added to his stock in contemplation of such sale and for the purpose of selling the same at such sale. For the purpose of this subsection (c), any unusual addition to the stock of such goods, wares and merchandise made within sixty days prior to the filing of such application shall be prima facie evidence that such addition was made in contemplation of such sale and for the purpose of selling the same at such sale.
(d) That the applicant, in the ticketing of the goods, wares and merchandise to be offered at the sale, has misrepresented the original retail price or value thereof.
(e) That any representation made in the application is false.
(1952 Code § 25-44-5; Ord. 159-56)