§ 12-51. Bankruptcy and closing-out sales.

(a)

A special event permit shall be required to conduct a closing-out sale, the local business tax to be determined by the length of sale, not to exceed sixty (60) days. Every person conducting such a closing-out sale must file with the city an inventory containing a complete and accurate list of the stock of goods, wares and merchandise on hand to be sold at such sale. The inventory shall contain the cost price of the respective articles enumerated.

(b)

The period of time during which a closing-out sale may be conducted shall not exceed sixty (60) days; after which time, the special event permit shall be invalid.

(c)

Any person taking over bankruptcy stock for the purpose of conducting a closing-out sale shall be required to purchase a special event permit based on the length of sale not to exceed sixty (60) days.

(d)

After filing notice with the city of intent to conduct a closing-out sale and following the sixty-day time during which the sale may be conducted, no such person shall re-engage in the same business at the same location.

(Ord. No. 78-122, § 36, 7-10-78; Ord. No. 07O-04-121, § 1, 6-25-07)