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Page 2 <br /> <br />Prohibited Items. The Planning Commission determined that it would be in the best interest <br />of the City if handguns and firearms were prohibited from purchase or pawn. In addition, a <br />pawnshop may not accept any goods or merchandise which displays an obliterated or <br />altered serial number. <br /> <br />Suspension/Revocation: Any violation of the terms of the licensing provisions could result in <br />the suspension or revocation of the pawn license. The ordinance articulates a number of <br />prohibited acts, such as lending money on a pledge at a rate of interest higher than allowed <br />by law, possessing stolen goods or merchandise, selling pawned goods before the time to <br />redeem has expired, or accepting pawned goods or buying goods from minors. <br /> <br />Legal Review: <br /> <br />Scott Riggs from Kennedy & Graven and Tom Hughes from Hughes and Costello reviewed <br />the proposed licensing ordinance and found no issues of concern. <br /> <br />Recommendation: <br /> <br />After review and discussion of the issues associated with pawnshop licensing, staff and <br />the Planning Commission recommend the introduction and first reading of Ordinance <br />712, an ordinance establishing licensing and operating regulations and requirements for <br />pawnshops. If any changes are needed, these can be made prior to the second reading, <br />currently scheduled for November 10, 2003. <br /> <br /> <br /> <br /> <br />_____________________________________ <br />James Ericson <br />Community Development Director <br /> <br /> <br />Attachment: <br />1. Ordinance 712 <br />