It shall be the duty of every taxpayer hereunder to keep and preserve suitable records
of all sales and purchases made by the taxpayer and such other books or accounts as
may be necessary to determine the amount of the tax for the collection or payment
of which the taxpayer is liable under this article. It shall be the duty of every
taxpayer 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, the taxpayer 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 the taxpayer. When the taxpayer 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 taxpayer or
as otherwise designated in the agreement.