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REPORTABLE TRANSACTION: Every transaction conducted by a pawnbroker in <br />which merchandise is received through a pawn or purchase, or in which a pawn is <br />renewed, extended, or for which a unique transaction number or identifier is <br />generated by their point of sale software, is reportable, except: <br />A. The bulk purchase of new or used merchandise from a merchant, manufacturer, <br />or wholesaler having an established permanent place of business, and the retail <br />sale of said merchandise, provided the pawnbroker must maintain a record of <br />such purchase which describes each item, and must mark each item in a manner <br />which relates it to that transaction record. <br />B. Retail and wholesale sales of merchandise originally received by pawn or <br />purchase, and for which all applicable hold and/or redemption periods have <br />expired. <br /> <br />516.03 LICENSE REQUIRED: No person shall exercise, carry on or be engaged <br />in the trade or business of pawnbroker within the city unless such person is <br />currently licensed in accordance with this chapter to be a pawnbroker. Pawnbrokers <br />shall also maintain and display at all times a current and valid Precious Metal Dealer <br />License issued by Ramsey County. <br /> <br />516.04 APPLICATION FOR LICENSE: Every application for license under this <br />chapter, whether for a natural person, partnership, corporation or other organization, <br />shall be made on a form supplied by the City and shall contain all information as <br />required on that form by law. <br />Subd. 1. All applications for a license under this chapter shall be signed and sworn <br />to under oath or affirmation by applicant. If the application is that of a natural <br />person, it shall be signed and sworn to by such person; if that of a <br />corporation, by an officer thereof; if that of a partnership, by one of the <br />general partners; and if that of an unincorporated association, by the manager <br />or managing officer thereof. <br />Subd. 2. Any falsification on a license application shall result in the denial of a <br />license. <br />Subd. 3. No Pawnbroker License will be issued, renewed or transferred without a <br />public hearing conducted by the City Council after a notice has been <br />published in the official City newspaper at least ten (10) days in advance of <br />the hearing.