If more than 200 feet away, you don't have to get a permit but you do have to abide by the general rules for outdoor advertising applicable to signs that are not located on the premises. In layman's terms, that means the following:
1. A sign which is more than 200 feet from the premises does not have to be under a permit.
2. Section 108.53 does not control, except to say that no permit is required because it is more than 200 feet away from the premises.
3. Section 108.52 restrictions do not apply because they control signs that are on the premises only.
4. The sign cannot be in the form of a "handbill". It must be an actual sign, and it needs to be on private property, rather than on the public street.
5. If the sign is 200 feet off the property, then you can say things like "Beer $1.50, $5.00 tequila shots" and "happy hour at 7-9 pm". You can't say things like "buy one get one free" or advertise any drink for free really at all. You must rather term it is "half-priced drinks", etc.
6. The sign must have your legal name on it, and the city and state location (last line of your physical address, including the zip code).
7. Your sign can't say anything that is false, untrue, or misleading, nor can it disparage your competition, nor can it contain anything which might be considered lude or offensive.
8. Don't mention any specific alcohol by Brand name, otherwise you have to put all kinds of disclosures
on the sign (like you see when you see a Shiner Bock Billboard).
9. If you do mention the specific names of a beer, see the following for an example of the information you must state on the sign (look at all the fine print): http://www.google. com/imgres?hl=en&sa=X&biw=877&bih=837&tbm=isch&prmd=imvns&tbnid=gYRjfkucxgRuYM:&imgrefurl=http://flickrhivemind.net/Tags/shiner,spoetzl/Interesting&docid=LRAfYRKMWWN4nM&itg=1&imgurl=http://farm1.static.flickr.com/253/518101240_d8ecbf6ff3.jpg&w=500&h=414&ei=gd_CT_7SJ6WviQfd3byzCg&zoom=1&iact=rc&dur=503&sig=105704765078803327836&page=1&tbnh=142&tbnw=207&start=0&ndsp=14&ved=1t:429,r:1,s:0,i:75&tx=94&ty=81
For liquor, if mentioned specifically, you also have to make similar disclosures.
Please let me know if there is anything else I can clarify.