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Billable transaction. Every reportable transaction conducted by a pawnbroker except renewals, redemptions or extensions of existing pawns on items previously reported and continuously in the licensee's possession is a billable transaction. (95-Or-160, § 1, 12-29-95) 324.30. License required. No person shall engage in the business of pawnbroker at any location without a pawnbroker license for that location. No pawnbroker license may be transferred to a different location or a different person. Issuance of a license under this chapter shall not relieve the licensee from obtaining any other licenses required to conduct business at the same or any other locations. (95-Or-160, § 1, 12-29-95) 324.40. License classifications. (a)Licenses renewed under provisions of this chapter shall be classified according to the number of billable transactions submitted annually to the Minneapolis Police Department during the twelve (12) month period ending September 30 prior to renewal. The classifications shall be: Class A- Licensees that submitted four hundred (400) or more transactions. Class B - Licensees that submitted fewer than four hundred (400)transactions. (b)All new licenses issued pursuant to this chapter after January 1, 1996, shall be deemed to be Class A licenses and subject to all applicable fees and regulations. (95-Or-160, § 1, 12-29- 95) 324.50. License fees. (a)The annual license fees for licenses issued under this chapter shall be as follows: Class_A-Two thousand five hundred dollars ($2,500.00). Class B-Two thousand five hundred dollars ($2,500.00). The annual license fee shall be payable semi-annually in accordance with procedures established by the director of licenses and consumer services. (b)The billable transaction license fee shall be classified according to the medium by which daily reports required by section 324.100 are submitted to the Minneapolis Police Department. These classifications shall be as follows: Modem - Required of all Class A licensees, optional for Class B licensees. Manual- Required of all Class B licensees who do not fulfill Class A reporting requirements. (c) The billable transaction license fee shall reflect the cost of processing transactions from the respective classifications and other related regulatory expenses as determined by the city council, and shall be reviewed and adjusted, if necessary, at least every six(6) months. Licensees shall be notified in writing thirty(30) days before any adjustment is implemented. The