§ 111.07 FULL-SERVICE RESTAURANT LICENSE FEES.
   (A)   As required by state law, the fee charged for the grant of an operating agreement for a full-service restaurant on-sale license shall be at or above the current fair market value as determined herein; however, any fair market value so established shall be a minimum of $1 for each person residing within the city as measured by the last preceding decennial federal census.
   (B)   The fee for an operating agreement for a full-service restaurant on-sale license shall be initially established by resolution within 90 days of the initial adoption of this chapter. Subsequent changes in the fee shall not be made for a period of ten years from the effective date of adoption of this chapter unless a population growth reported by the federal decennial census requires an increase in the fee.
   (C)   Fair market value for an operating agreement for a full-service restaurant license shall be as follows.
      (1)   Within 90 days of the effective date of this chapter, and as required by state statute, each manager within the city who has an operating agreement for an on-sale license and who purchased the operating agreement, or had the operating agreement transferred to the manager anytime between January 1, 2003, and January 1, 2008, shall report the amount originally paid for the operating agreement to the finance office on forms provided by the city. Any form submitted pursuant to this provision shall be signed under oath and shall include the documents establishing the amount originally paid for the operating agreement. If the transaction for the purchase of an operating agreement included real or personal property, the full market value of the real or personal property on the date of the original sale shall be deducted from the total transaction price to determine the amount paid by the applicant for the operating agreement. The burden of establishing the amount paid for the operating agreement shall be on the manager. Any manager contesting the fair market valuation of the real or personal property may appeal the valuation adopted by the city to Circuit Court.
      (2)   For purposes of this section, the term CURRENT FAIR MARKET VALUE means the documented price of the on-sale operating agreement most recently sold at current values, or thereof, through an arm’s length transaction, less the value of any real or personal property included within the transaction.
(Prior Code, § 111.07)