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Every applicant under this chapter 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, and which bond shall be to the approval of the Director of Law, and shall be conditioned upon faithful observance of all of the conditions of this chapter and shall also indemnify any purchaser at the 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 going-out-of-business sale may maintain an action at law against the licensee making such misrepresentation, and may join as party defendant the surety or sureties on the bond as herein provided.
(Ord. 9287/83. Passed 2-9-83.)
Upon receipt of any such application as provided for in Section 726.03
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 or 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 726.04
, 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. 9287/83. Passed 2-9-83.)
No going-out-of-business sale shall be licensed or permitted for a period of more than thirty days. Such thirty days shall be consecutive except as to Sundays and legal holidays, except that if the licensee within such thirty day period does not sell the quantity of merchandise permitted under Section 726.07
, the licensee may make application for an extension of time in which to hold his going-out-of-business sale. In no event shall any such extension exceed thirty consecutive days, Sundays and legal holidays excepted. In no event shall the licensee be granted any more than one such extension. No license hereunder shall be issued for the sale of stock on hand of any person who shall not for the period of one year next preceding such sale have been continuously engaged in the City in the business of selling such merchandise at wholesale or retail; nor shall a license be issued for the sale or offering for sale at a going-out-of-business sale of stock on hand by any purchaser thereof from a person that shall not for the period of one year next preceding any such purchase have been continuously engaged in and upon the same premises wherein the sale is to be held in the business of selling such merchandise at wholesale or retail. No such license shall under any circumstances be granted to any person within a period of two years after the termination of such going-out-of-business sale by such person held or conducted hereunder. No person who has been convicted of violating any of the provisions relating to going-out-of-business sales shall be granted a license for such sale or sales or be employed in any manner at or in connection with any going-out-of-business sale licensed hereunder for a period of five years after such conviction.
(Ord. 9646/86. Passed 2-26-86.)
(Ord. 9646/86. Passed 2-26-86.)
During any going-out-of-business sale no additions whatsoever shall be made to the stock of merchandise set forth in the inventory attached to the application for license, and nothing shall be offered for sale or sold at any such going-out-of-business sale which is an addition to the stock of merchandise described in the inventory, or which has been added to the applicant's stock within a period of thirty days prior to the date the applicant filed application for license. Under no circumstances shall the inventory offered for sale at a going-out-of-business sale exceed by fifty percent (50%) the average inventory carried by the applicant over the preceding five years, nor shall the inventory offered for sale at a going-out-of-business sale exceed by fifty percent (50%) the average inventory carried for the period of time the applicant has been in business. Any abnormal purchases during the year prior to the application for a license shall be cause for refusal to issue a license.
(Ord. 9287/83. Passed 2-9-83.)
(a) No licensee, his agents or employees shall make any statements which are false in any particular, or which have a tendency to mislead or to make any misrepresentation whatsoever with references to any article sold or offered for sale during such going-out-of-business sale.
(b) No person shall announce or advertise directly or indirectly, or cause to be announced or advertised directly or indirectly, in any way within the City any sale which does not constitute a going-out-of-business sale by the use of any terms, statements, assertions or representations which shall have a tendency to reasonably lead the public or ultimate customer to believe that such sale constitutes a going-out-of-business sale.
(c) No person shall conduct going-out-of-business sales as an established merchandising practice.
(Ord. 9287/83 Passed 2-9-83.)
The Mayor, upon recommendation of the Chief of Police, or upon his own initiative, may at any time revoke or suspend the license granted under authority of this chapter for any violation of the requirements thereof or of any law relating to the business so licensed or for failure to comply with the terms of this chapter.
(Ord. 9287/83. Passed 2-9-83.)
Whoever violates any provision of this chapter shall be fined not more than five hundred dollars ($500.00) and may be imprisoned for not more than sixty days or both. Each separate sale or offering for sale in violation of the provisions of this chapter shall constitute a separate offense hereunder.
(Ord. 9287/83. Passed 2-9-83.)