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It is declared the legislative intent that jewelry auction sales or going-out-of-business sales, as herein defined, shall be held only to liquidate estates, businesses and to avoid bankruptcy or the like, and shall not be permitted as established merchandising practice.
(Ord. 4509/53. Passed 12-7-53.)
No person shall sell or offer for sale at public auction, or as a going-out-of-business sale, as defined in this chapter, any gold, silver, plated ware, precious stones, watches, clocks, jewelry or like merchandise, whether the same be his property or that of another, unless licensed to do so as hereinafter provided. Nothing contained in this chapter shall be deemed to apply to any person executing a process or order of a court of competent jurisdiction, nor to licensed pawnbrokers nor loan companies selling or offering for sale unredeemed pledges or chattels in the manner provided by law.
(Ord. 4509/53. Passed 12-7-53.)
An applicant for a license required by Section 725.03
shall file an application therefor with the Mayor, not later than thirty days prior to the auction sale, or going-out-of-business sale, to be licensed upon forms prescribed by the Mayor, which shall include, in addition to the name and address of the applicant, and the location and time of the proposed auction sale, or going-out-of-business sale, a sworn statement of the stock on hand and the stock to be offered at auction or going-out-of-business sale, the quantity, kind or grade of each item, the wholesale market value thereof and the name of the owner of such merchandise for at least one year prior to the proposed auction sale or going-out-of-business sale thereof and such other information as the Mayor shall prescribe.
(Ord. 4509/53. Passed 12-7-53.)
Every applicant shall execute and file with the Mayor a good and sufficient bond in the sum of two thousand five hundred dollars ($2,500), with two or more sureties thereon who shall be freeholders within the City, or with the surety thereon a surety company authorized to do business in the State of Ohio, and which bond shall be to the approval of the Director of Law, and shall be conditioned upon faithful observance of all the conditions of this chapter and shall also indemnify any purchaser at the public auction or going-out-of-business sale who suffers any loss by reason of misrepresentations in such sale. The bond shall continue in effect until expiration of the statute of limitations on all claims secured by such bond. The licensee shall notify the Mayor of any suit filed as a result of the operations hereby licensed. Any purchaser claiming to have been damaged by misrepresentation in the auction sale or going-out-of-business sale may maintain an action at law against the licensee making such misrepresentations, and may join as party defendant the surety or sureties on the bond as herein provided.
(Ord. 4509/53. Passed 12-7-53.)
Upon receipt of any such application the Mayor shall set a time and place for a public hearing thereon not later than two weeks thereafter, notice of which hearing shall be published in a local newspaper of general circulation. When satisfied as a result of such public hearing or otherwise that neither any fraud nor deception in the conduct of the sales or in the advertising thereof, nor any misrepresentation of the goods to be sold, is intended or will be practiced, the Mayor upon receipt of the bond required by Section 725.05
, duly approved by the Director of Law as to form and the City Auditor as to sufficiency, shall issue to the applicant a license for which application has been made. The license fee shall be one hundred dollars ($100.00) for the first thirty days or less, and a renewal fee of one hundred dollars ($100.00) for an additional thirty days or less.
(Ord. 4509/53. Passed 12-7-53.)
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