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notice to the licensee and a public hearing. <br /> The <br /> notice shall give at least eight (8) days notice of the <br /> time and place of the public hearing and shall state <br /> the nature of the charges against the licensee. The <br /> notice shall be mailed to the licensee atit the most The <br /> recent address listed on the license app ei <br /> hearing of a contested case shall be in accordance with <br /> Minnesota Statutes, Section 14.57 to 14.60, but <br /> informal disposition of a contested case by <br /> stipulation, pursuant to Minnesota Statutes Section <br /> 14.59, may provide an adequate basis for imposition of <br /> sanctions. <br /> F. Precious Me tal Dealers. <br /> 1. License Requ No person shall exercise, carry- <br /> on, or be engaged in the trade or business of precious <br /> metal dealer within the city unless such person ati <br /> s for <br /> currently licensed under this chapter. App <br /> a license should be made to the city clerk on a form <br /> supplied by the city. Upon filing of the application <br /> and payment of the required fee as stipulated in <br /> subsection 5 of this chapter, the application shall be <br /> presented to the city council for consideration. <br /> 2. Definitions. <br /> a. Precious metal dealer Any person who either <br /> as principal or agent engages in the business of <br /> buying coins or secondhand items <br /> containing <br /> precious metal, including, but not limited to <br /> jewelry,watches, eating utensils, candlesticks, <br /> and religious and decorative objects. <br /> b. Precious metals means silver, gold, platinum. <br /> c. Precious metal items any item made in whole <br /> or in part of metal and containing more than one <br /> percent by weight of silver, gold or platinum. <br /> 3. Purpose. The city council finds that precious <br /> metal dealers potentially provide an opportunity for <br /> the commission of crimes and their concealment because <br /> such businesses have the ability to receive and <br /> transfer stolen property easily and quickly. The city <br /> council also finds that consumer protection regulation <br /> is warranted in transactions involving precious metal <br /> dealers. The purpose of this ordinance is to prevent <br /> precious metal businesses from being used as facilities <br /> 9 <br />