PCAgenda_93Sep27 - Laserfiche WebLink

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Page 4 `J m. Not Permitted. Precious metal dealers may not loan money on deposit or pledge of personal property, or other valuable thing. Precious metal dealers may not deal in the purchasing of personal property or other valuable thing on condition of selling the same back again at a stipulated price, or who loans money secured by chattel mortgage on personal property, taking possession of the property or any part thereof so mortgaged. 5. Fees. a. Application Fee. (1) The license application fee shall be paid in full before the application for a license shall be accepted. Upon rejection of any application for a license or upon withdrawal of any application before City Council approval, the license fee shall be refunded in full to the applicant except where rejection is for a willful misstatement in the license application. (2) The application fee shall be set at $1,545.00 • b. Investigation Fee. (1) An applicant under this Section shall deposit with the issuing authority at the time an original application is submitted, $1,500 to cover the costs involved in verifying the license application and to cover the expense of any investigation needed to assure compliance with this Section. (2) If the investigation and verification process is conducted solely within the State of Minnesota, the fee shall be $500, and the remainder of the deposit shall be returned to the applicant. If the investigation and verification process is conducted outside the State of Minnesota, the issuing authority may recover the actual investigation costs not exceeding $1,500. 6. Restrictions Regarding License Transfer. Each license under this Division shall be issued to the applicant only and shall not be transferable to any other person. No licensee shall loan, sell, give or assign a license to another person. 7. Limitation on Number of Licenses. The number of precious metal dealer • licenses issued in Falcon Heights in any calendar year shall not exceed one.