743.05 LICENSE APPLICATION.

   An applicant for a license to conduct a public auction, going-out-of-business sale or a distress merchandise sale shall file an application with the Mayor at least thirty days prior to the public auction, going-out-of-business sale or distress merchandise sale. However, the thirty-day period may be waived by the Mayor, in writing, for a shown good cause.

   The application shall be made upon forms prescribed by the Mayor, signed and verified by the applicant and shall include the following information:

   (a)   Name and address of the applicant, and the name of the true owner if the applicant is not the true owner;

   (b)   Name, location and time of the proposed public auction, going-out-of-business sale or distress merchandise sale;

   (c)   Inventory of the goods, wares or merchandise, on hand or on order, which the applicant intends to offer for sale at the public auction, going-out-of-business sale or distress merchandise sale, showing the quantity, kind or grade of each item, wholesale cost thereof and the name of the supplier from whom each item was acquired;

   (d)   A statement of the average, highest and lowest inventory at the wholesale cost thereof, at the applicant's place of business during the year next preceding the filing of the application. When the applicant operates more than one retail outlet and the outlets are supplied from a warehouse or warehouses, the amount of inventory in the warehouse(s) attributable to the retail outlet wherein the sale is being conducted shall be calculated as follows:

      (1)   The total volume of merchandise handled in the warehouse or warehouses during the year next preceding the filing of the application hereunder shall be determined;

      (2)   The percentage of the year's total volume sold through the retail outlet wherein the sale is being conducted shall next be determined;

      (3)   The same percentage of the merchandise on hand at the warehouse or warehouses at the time of the filing of the application hereunder shall be attributable to the concerned outlet and shall be included as part of the inventory set forth in the application.

   (e)   A list of goods, wares or merchandise received by the applicant during the three months next preceding the filing of the application;

   (f)   A statement that the applicant will discontinue the business for which the license is requested, provided that such sale is a going-out-of-business sale or public auction, the date when such termination will be effected; and that the applicant will not use or authorize the use of his trade, business or firm name for a period of one year immediately following the expiration of a license issued to him under this chapter, unless the name is being used in connection with another establishment presently located within the City at a different location;

   (g)   Other information as the Mayor prescribes. (1967 Code §115.21)