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investment requirement has been satisfied. An applicant purchasing an existing licensed business <br />and requesting a license transfer must establish that the fair market value of the business equals the <br />amount of the initial investment required hereunder. The Council may provide for an independent <br />appraisal at applicant's expense, as an aid in determining the investment or the value of said business. <br />In the event this requirement as to investment is not complied with within one year from the date of <br />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 />(1) 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 infortnation 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 intoxicating liquor. It shall he unlawful to <br />make any false statement in an application. Every application for the issuance or renewal of a 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 is the same as outlined in 703.040 Paragraph (5) (a) through (c) <br />and Paragraph (6) below: <br />store. <br />(3) Off -Sale License. An off -sale license may only be granted to an exclusive liquor <br />703-2 <br />4 <br />