§ 6-1.124. Deposit or Savings and Loan Certificate and Share Required.

Every person who begins the operation of a new business subject to a license under the provisions of Sections 6-1.201, 6-1.202, 6-1.204, 6-1.206, and 6-1.207, of this chapter, upon making application for a license, shall deposit with the Director the amount of one hundred dollars ($100.00) or a savings and loan certificate and share in a form approved by the City Attorney a guarantee that the license tax will be paid. Said deposit or savings and loan certificate and share shall be refunded:

(a)

At the expiration of six (6) months from the first of the next ensuing quarter, provided, however that no refund or deposit or savings and loan certificate and share shall be made unless all charges imposed under the terms of this chapter shall have been paid and all reports required by this chapter shall have been filed with the Director on or before the delinquent date for two (2) consecutive quarters.

(b)

Upon cessation of business in the City, providing all charges imposed by this chapter shall have been paid and final reports required by this chapter shall have been filed.

(c)

At the expiration of one (1) year from the first of the next ensuing year, provided, however, that no refund of deposit or savings and loan certificate and share shall be made unless all charges imposed under the terms of this chapter shall have been paid and all reports required by this chapter shall have been filed with the Director on or before the delinquent date for the previous year.

Provided further that the Director may apply said deposit or savings and loan certificate and share, or any portion thereof to the business license tax or other taxes due the City from said business; and provided further that the Director may declare said deposit or savings and loan certificate and share forfeited for failure to report and pay the liability to the City within six (6) months after the report becomes delinquent. Such forfeiture shall not relieve or excuse the licensee from payment of the balance of license tax due and unpaid.

Every change in ownership of a business shall be construed as the commencement of a new business by the owner, and shall require the payment of a license tax and the deposit of one hundred dollars ($100.00) as above stated or a savings and loan certificate and share. The Director may waive the deposit or savings and loan certificate and share requirements for a new or additional business operated by a person previously licensed under this chapter, providing said person has had a satisfactory experience in payment of license taxes to the City.

(Added by Ord. 3266-C.S., § 1, effective 9-26-02)