Agenda - Council - 02/28/1995 - Laserfiche WebLink

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I I ,I I I I I I I I I I I I I I I g. Each application shall be accompanied by a bond in the amount of $5,000.00 ex~cuted by a corporation authorized to do business in the State of Minnesota and coladitioned that in conducting such business the licensee will observe all laws in relation to pawnbrokers, and will conduct business in conformity thereto, and that th~ licensee will account for and deliver to any person legally entitled any goods wtiich have come into the licensee's possession through the licensee's business as a PaWnbroker and/or Secondhand Goods Dealer, or in lieu thereof, will pay the reasonable value in money to the person. SuCh bond shall be maintained so long as the licensee does business in the City. Th~ Bond shall be for the benefit of the City or any person who shall suffer any da.mage through the act of such licensee and shall not be terminable without the bohd company giving written notice 30 days in advance of termination to the Administrator. h. EaCh Application shall be accompanied by a statement indicating the amount of in,iestment the Applicant has in the business, building, premises, fixtures, furhiture, stock in trade, etc. and proof of source of such money. If the ApPlicant is a natural person, the application shall be signed and sworn to by the person; if a corporation, by an agent authorized to sign; if a partnership, by a partner. No personishall make any material false statement in the application. In addition to other · penalties, the licensee's license may be revoked by the Council for giving false information on the apph,'cation. Subd. 3. INVESTIGATION FEE An applicant for a license pursuant to this Section shall deposit with the City at the time an original al~iication is submitted, $1,500.00 to cover the costs involved in verifying the license app!ication and to cover the costs involved in verifying the license application and to cover the expense of any investigation needed to assure compliance with this Section. If the inve~stigation and verification process is conducted solely within the State of Minnesota,i the fee shall be $500.00, and the remainder of the deposit shall be returned to the applicat~t. If the investigation and verification process is conducted outside the State of Minnesota,!the City may recover the actual investigation costs not exceeding $1,500.00. Subd. 4. ~ EXPIRATION OF LICENSE I All licenses shall expire one year after issuance unless earlier renewed. A new application fee shall be[required whenever there is any change in the facts presented by the application other than d. ate, applicant(s) home address or building owner(s) address, or in the case of any license.~not renewed prior to it's expiration. Subd. 5. PERSONS AND LOCATIONS INELIGIBLE FOR A LICENSE ae No license under this Section all be issued to an applicant who is a natural person if sucti applicant: 1. Is a minor at the time the application is filed; I