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. • . <br /> (c) The Ccuncil shall obtain and the City shall pay for liability <br /> insurance for the municipal liquor store in the amounts required <br /> by law for off-sale intoxicating and non-into�icating malt liqucr <br /> licenses. <br /> 40.025 - Municipal Liquor Store Fund <br /> (a ) A municipal liquor store fund is hereby created in which all <br /> revenues from the operation of the municipal liquor store shall be <br /> deposited and from which all ordinary operating expenses shall be <br /> paid; said monies shall be kept separate from the general fund . <br /> Any amounts needed to be borrowed from the City's general fund for <br /> initial costs of rent, fixtures and stock or for operating <br /> expenses shall be reimbursed to the general fund out of the first <br /> available monies coming into the municipal liquor store fund <br /> thereafter . Surpluses accumulating in the municipal liquor stcre <br /> fund may be transferred to the general fund or to any other <br /> appropriate fund of the City, by resolution of the Council and ma� <br /> be expended for any municipal purpose . <br /> (b) The handling of municipal liquor store receipts and <br /> disbursements shall comply with the procedure prescribed by law <br /> for the receipts and dishursements of municipal funds generally. <br /> (c) The City Council shall provide, as soon as possible following <br /> the close of each fiscal year, for an audit of the accounts of the <br /> municipal liquor store for that fiscal year by the public examiner <br /> or a qualified public accountant . <br /> 40 .030 - License Required <br /> No person, except wholesalers or manufacturers, to the extent <br /> authorized under state license shall directly ar indireetly deal <br /> in, sell or keep for sale any intoxicating liquor without first <br /> having received a license to do so as hereinafter provided. All <br /> persons licensed to sell intoxicating or non-intoxicating malt <br /> liquor , including food retailers, and holders of on-sale wine <br /> licenses must show proof of insurance through a policy, bond or <br /> cash deposit with the State Treasurer in minimum amounts required <br /> by statute. The exceptions to this insurance requirement are <br /> those establishments licensed to sell non-intoxicating malt liquor <br /> or those holding on-sale wine licenses where sales of <br /> non-intoxicating malt liquor or wine is less than �10,000 per <br /> year. "On sale" and "Sunday sale" licenses shall be issued only <br /> to hotels and restaurants. No more than three "on sale" licenses <br /> may be issued in the City. Licenses shall be of three kinds: "On <br /> sale• , "Sunday sale" and "On-Sale Wine ." <br /> -2- <br />