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(5) the time for establishing residence in Nfinnesota may for good cause be <br /> extended by the City Council. <br /> 566.09. Fees. <br /> A. Investigation Fee. An applicant for any license under this Chapter shall pay the City <br /> in advance at the time an original application is submitted, a nonrefundable investigation fee to <br /> cover the costs involved in verifying the license application and to cover the expense of any <br /> 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 Five Thousand Dollars ($5,000.00) 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 /> 8 <br />