(1) The annual license fees for pawnbrokers and precious metal dealer licenses issued under this chapter shall be established in the fee schedule adopted by the City Council. The annual license fee shall be payable annually in accordance with procedures established by the Finance Director.
(2) The billable transaction license fee shall be classified according to the medium by which daily reports required by § 612.10 are submitted to the Lino Lakes Police Department. These classifications shall be as follows:
(a) Modem - Required of all Class A licensees, optional for Class B licensees; and
(b) Manual - Required of all Class B licensees who do not fulfill Class A reporting requirements.
(3) 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 months. Licensees shall be notified in writing 30 days before any adjustment is implemented. The billable transaction fee for modem transactions shall not exceed the billable transaction fee for manual transactions.
(4) Billable transaction fees shall be billed monthly and are due and payable within 30 days. Failure to do so is a violation of this chapter.
(Prior Code, § 611.05)
Cross-reference:
City fee schedule, see § 218.01