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Ordinance 712 <br />Page 6 <br /> <br /> <br /> 516.08 BILLABLE TRANSACTION FEES: Licensees shall pay a monthly <br />transaction fee on all billable transactions. The minimum fee shall be established by <br />resolution approved by the City Council. Such fee shall be due and payable within <br />thirty (30) days. Failure to timely pay the billable transaction fee shall constitute a <br />violation of this chapter. <br /> <br />516.09 BOND REQUIREMENT: At the time of filing an application for a license, <br />the applicant shall file a bond in the amount of ten thousand dollars ($10,000.00) with <br />the City. The bond, with a duly licensed surety company as surety thereon, must be <br />approved as to form by the city attorney. The bond must be conditioned on the licensee <br />observing all ordinances of the City and all laws relating to the business of pawnbroker <br />or precious metal dealer, and the licensee accounting for and delivering to any person <br />legally entitled thereto any articles which may have come into the possession of the <br />licensee as pawnbroker, or in lieu thereof such licensee paying the person or persons <br />the reasonable value thereof. The bond shall contain a provision that it may not be <br />canceled without thirty (30) days advance written notice to the licensing authority. <br /> <br />516.10 INELIGIBLE PERSONS AND LOCATIONS: <br />Subd. 1. Ineligible Persons: No licenses under this chapter shall be issued to an <br />applicant who is a natural person, general or managing partner, manager, <br />proprietor or agent if such applicant: <br />a. Is a minor at the time the application is filed; <br />b. Has been convicted of any offense related to the occupation licensed or <br />involving moral turpitude; <br />c. Is not a citizen of the United States or a resident alien; <br />d. Is not of good moral character or repute; <br />e. Has misrepresented or falsified information on the license application; <br />f. Holds an intoxicating liquor license under this code; <br />g. Has had a pawnbroker or precious metal dealer license revoked elsewhere; <br />or <br />h. Other good and sufficient reason at the sole discretion of the City Council. <br />Subd. 2. Ineligible Locations: The following locations shall be ineligible for licenses <br />under this chapter: <br />a. No license shall be granted or renewed for operation on any property on <br />which taxes, assessments or other financial claims of the state, county, school <br />district or city are due, delinquent or unpaid.