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DRAFT 4.16.2010 Page 11 Subd. 4. Subdivision 1 does not apply to on-sale wine licensees who by affidavit establish that they are holders of an on-sale wine license with sales of less than $25,000 for wine for the preceding year. Subd. 2 5. Revocation of License: The operation of such off-sale or on-sale intoxicating liquor or wine business without having on file, at all times, with the Municipality City proof of financial responsibility required by this Section shall be grounds for immediate revocation of the license. Notice of cancellation of a current liquor liability policy shall service as notice of the impending revocation of the license. (1988 Code §100.03) 502.08: LICENSE HEARING: No issuance of a new intoxicating liquor or wine license, transfer of an existing license, renewal of an existing license, issuance of temporary special event or banquet licenses on-sale intoxicating liquor license, Sunday sales license, or special outdoor consumption endorsements for the sale of intoxicating liquor on-sale or off-sale, club, Sunday sales or on-sale wine shall be hereafter granted by the Council until a public hearing has been conducted by the Council after published notice in the official newspaper at least ten (10) days in advance of the hearing. (1988 Code §100.05) (Ord. 601, 5-12-97; Ord. 771, 4-24-06) 502.09: REVIEW AND INVESTIGATION OF APPLICATION; ISSUANCE OR DENIAL: Subd. 1. Investigation of Application; Issuance or Denial: The Council shall investigate all facts set out in the application. The City must conduct a preliminary background and financial investigation of all applicants and transfer applicants for on-sale intoxicating liquor licenses. After such investigation, the Council shall grant or refuse the application, in its discretion. No off-sale intoxicating liquor license, on- sale intoxicating liquor license for a club, temporary on-sale intoxicating liquor license or on-sale wine license shall become effective until it, together with the bond proof of financial responsibility furnished by the applicant, has been approved by the Commissioner of Public Safety. Subd. 2. Report to Commissioner of Public Safety: The Clerk-Administrator shall, within ten (10) days after the issuance of any on-sale intoxicating liquor or wine license under this Chapter, submit to the Commissioner of Public Safety the full name and address of each person granted a license, the trade name, the effective license date and the date of expiration of the license. The Clerk-Administrator shall also submit to the Commissioner of Public Safety any change of address, transfer, cancellation, suspension or revocation of any on-sale license by the Council during the license period. (1988 Code §100.05)