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investigation needed to assure compliance with this Section. The investigation fee is set forth in <br /> Section 615. <br /> B. License Fee. <br /> (1) The annual license fee is set forth in Section 615. The license fee shall be <br /> paid annually,to be determined pro-rata from the date of issuance of the <br /> license. <br /> (2) The annual license fee shall be paid in full before the license is effective. <br /> (3) When the license is for premises where the building is not ready for <br /> occupancy,the time fixed for computation of the license fee for the initial <br /> license period shall be ninety(90) days after approval of the license by the <br /> City Council or upon the date the building is ready for occupancy,whichever <br /> is sooner. <br /> (4) When a new license application is submitted as a result of incorporation by <br /> an existing licensee and the ownership, control, and interest in the license are <br /> unchanged,no additional fee shall be required. <br /> C. Billable Transaction Fees: Licensees shall pay a monthly transaction fee on all <br /> billable transactions. Such fee shall be due and payable within thirty(30) days. Failure to timely <br /> pay the billable transaction fee shall constitute a violation of this Section. <br /> 566.10. Bond Required. <br /> At the time of filing an application for a license,the applicant shall file a bond in the <br /> amount of Ten Thousand Dollars ($10,000.00)with the City. The bond, with a duly licensed <br /> surety company as surety thereon, must be approved as to form by the City Attorney. The bond <br /> must be conditioned that the licensee shall observe all ordinances of the City and all laws in <br /> regulation to the business of pawnbroker, and that the licensee will account for and deliver to any <br /> person legally entitled thereto any articles which may have come into the possession of the <br /> licensee as pawnbroker, or in lieu thereof such licensee shall pay the person or persons the <br /> reasonable value thereof. The bond shall contain a provision that it may not be cancelled without <br /> thirty(30) days advance written notice to the licensing authority. <br /> 566.11. Persons Ineligible for a License. <br /> A. No license under this Section shall be issued to an applicant who is a natural person <br /> if such applicant: <br /> (1) Is a minor at the time the application is filed; or <br /> (2) Has been convicted of any crime directly related to the occupation licensed <br /> as prescribed by Minnesota Statutes, Section 364.03, subdivision 2, and has <br /> not shown competent evidence of sufficient rehabilitation and present fitness <br /> 8 <br />