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determined by the City Assessor in the year the license is first issued for determining whether the <br />initial investment requirement has been satisfied. An applicant purchasing an existing licensed <br />business and requesting a license transfer must establish that the fair market value of the business <br />equals the amount of the initial investment required hereunder. The Council may provide for an <br />independent appraisal at applicant's expense, as an aid in determining the investment or the value of <br />said business. In the event this requirement as to investment is not complied with within one year <br />from the date of issuance of the license, the license may be revoked or suspended. <br />(2) Building Area. A restaurant building containing a minimum of 1,500 square feet used <br />for seated dining purposes, including the bar area but excluding the area used for kitchen, storage, <br />restroom facilities, waiting areas, and entrance and exit purposes. <br />(3) Seating Capacity. A restaurant building having appropriate facilities and adequate <br />staff to serve meals at tables and, for seating not less than 90 guests at one time for meals, including <br />seating available for food service in the bar area but excluding seating in a lounge or waiting area. <br />(4) Maximum Liquor Sales. The sale of intoxicating liquor, wine or 3.2 percent malt <br />beverages shall not exceed 40 percent of the restaurant's gross yearly sales. Evidence of compliance <br />with this requirement shall be furnished by licensee with annual renewal information submitted to <br />City. <br />703.040. WRITTEN APPLICATION. <br />(I) Every application for a license to sell intoxicating liquor shall be made to the City <br />Administrator on a form supplied by the City and containing such information as the City <br />Administrator or the City Council shall require. Each application shall include, at a minimum, the <br />name and place of residence of the applicant and the exact location of the place at which the <br />applicant proposes to carry on the business of selling 3icreent malt intoxicating liquor, and <br />whez;;c ;et -he-erohe -has atany- time - previous -te -the- date- thereefbc, • . • .usinessor <br />in the businc °s of selling foed stuffs in the City, and if so, when and - where. It shall be unlawful to <br />make any false statement in an application. Every application for the issuance or renewal ofa license <br />shall include a copy of each Summons received by the applicant under Minnesota Statutes Section <br />340A.082 during the preceding year. <br />(2) Temporary On -Sale License. Temporary On -Sale licenses shall be issued only to <br />clubs or charitable, religious, or other nonprofit organizations in existence for at least three (3) years <br />prior to the date of application. Proof of eligibility must accompany an application for Temporary <br />On -Sale license. Applications shall be made thirty (30) days in advance on forms prescribed by the <br />City Administrator, No licenses shall be valid prior to approval by the Commissioner of Public <br />Safety. The application must state the days of sale for which a license is requested, and a new <br />application must be completed and submitted for each additional period. The minimum requirement <br />for proof of financial responsibility • r - is the same as outlined in 703.040 <br />Paragraph (6) (a) through (c) and Paragraph (7) below: <br />703 -2 <br />14 <br />