Sec. 19-26. Successor in Interest Exemptions.

   (a)   Any person identified as a successor in interest by definition in section 19-1 of this article may not be subject to the provisions of section 19-25 of this article if that person has withheld from the purchase price an amount equal to or greater than the taxes, interest and penalties owned by the seller and has placed that amount in escrow in the name of the city;

   (b)   Any person identified as a successor in interest by definition in section 19-1 of this article may not be subject to the provisions of section 19-25 of this article if that person's predecessor has been provided a certificate from the city that no amount is due;

   (c)   Any person identified as successor in interest by definition in section 19-1 of this article may not be subject to the provisions of section 19-25 of this article if a period of more than twelve (12) months has expired between the time that the successor in interest acquires the property and the time the predecessor quit the business; or

   (d)   Any person identified as a successor in interest by definition in section 19-1 of this article may not be subject to the provisions of section 19-25 of this article if that person acquired the business or business property only to protect his investment and does not operate the business nor sell the business to another party who will operate the business.

(Ord. No. 7885, § 2, 8-3-92)