It shall be the duty of every vendor engaging or continuing in business in the city
for the transaction of which a license is required hereunder to keep and preserve
suitable records of all sales made by such vendor and such other books or accounts
as may be necessary to determine the amount of the tax for the collection or payment
of which such vendor is liable under this article. It shall be the duty of every such
vendor to keep and preserve for a period of four (4) years following the due date
of the return or the payment of the tax all such books, invoices and other records
necessary to determine the tax and the same shall be open for examination by the manager
of finance. Upon demand by the manager, such vendor shall make the books, invoices,
accounts or other records it maintains available at the office of the manager or some
other place designated by the manager for examination, inspection and audit by the
manager. The manager, in the manager's discretion, may make, permit or cause to be
made the examination, inspection or audit of books, invoices, accounts and other records
so kept or maintained by such vendor. When such vendor shall have entered into a binding
agreement with the city to reimburse it for all costs and expenses incurred by the
city in order to have such examination, inspection or audit at a place other than
the place designated by the manager, then such examination, inspection or audit shall
be made where such records are kept or maintained by the vendor or as otherwise designated
in the agreement.