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• PROPOSED ORDINANCE LICENSE FOR A PRECIOUS METAL DEALER Chapter 5, Section 1.03, Subdivision F F. PRECIOUS METAL DEALERS 1. License Required No person shall exercise, carry-on, or be engaged in the trade or business of precious metal dealer within the city unless such person is currently licensed under this chapter. Application for a license should be made to the city clerk on a form supplied by the city. Upon filing of the application and payment of the required fee as stipulated in subsection 5 of this chapter, the application shall be presented to the city council for consideration. 2. Definitions. a. Precious metal dealer means any person who either as principal or agent engages in the business of buying coins or secondhand items containing precious metal, including, but not limited to jewelry, watches, eating utensils, candlesticks, and religious and decorative objects. • b. Precious metals means silver, gold, platinum. c. Precious metal items mean any item made in whole or in part of metal and containing more than one percent by weight of silver, gold or platinum. 3. Pur ose. The city council finds that precious metal dealers potentially provide an opportunity for the commission of crimes and their concealment because such businesses have the ability to receive and transfer stolen property easily and quickly. The city council also finds that consumer protection regulation is warranted in transactions involving precious metal dealers. The purpose of this ordinance is to prevent precious metal businesses from being used as facilities for commission of crimes receipt and transfer of stolen merchandise and to assure that such businesses comply with basic consumer protection standards, thereby protecting the public health, safety, and general welfare of the citizens of the city. 4. Conditions. a. RecordkeeainQ At the time of a receipt of an item of property, the precious metal dealer shall immediately record, using the English • language, in an indelible ink, in a book or journal, which has page numbers that are preprinted, the following information: