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(b) The annual license fees for licenses issued under this article shall be set by council ordinance. • (c) The billable transaction fee shall reflect the cost of processing transactions and other related regulatory expenses as determined by the city council, and shall be reviewed and adjuste& if necessary by council ordinance. Licensees shall be notified in writing 30 days before any adjustment is implemented. 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 article. Section 6. That Section 38 -320 of the City of Elk River Code of Ordinances, entitled Number of Licenses, shall be amended to read as follows: No more than wee two pawnbroker's licenses shall be issued by the city at any time, and priority shall be given to qualified applicants for renewal of existing licenses. Section 7. That Section 38 -322 of the City of Elk River Code of Ordinances, entitled Denial, Suspension, or Revocation, shall be amended to add new subsection (g) as follows: W Any fees paid to the City for a license will be forfeited to the City upon denial, suspension, or revocation of the license. Section 8. That Section 38 -342 of the City of Elk River Code of Ordinances, entitled - Records, shall be amended such that subsections (a)(5), (a)(6), (a)(7), and (a)(8) read as follows: (5) The identification number and state of issue of the acceptable identification from a valid card issued by the state of residency of the person • from whom the article was received. The signature of the person identified in the transaction. (7) The name and unique identifier of the licensee or employee that conducted the transaction. (8 ) The pawnbroker shall take a color photograph or color video recording of each item pawned or sold that does not have a unique serial number or identification number pennanendy engraved or affixed. Section 9. That Section 38 -343 of the City of Elk River's Code of Ordinances, entitled - Receipts, shall be amended to read as follows: Every licensee shall deliver to the party identified in every reportable transaction perseH pledg4tg; selliftg, leaviitg ar dep eleti a receipt numbered to correspond with the licensee's records. The receipt shall contain the substance of the transaction and the signature of the person from whom the item was received. The receipt shall be in duplicate form, with one copy to be retained by the licensee for three years. All pawn tickets shall also contain the statements required under Minn. Stats. § 325J.04, subd. 2. Section 10. That Section 38 -344 of the City of Elk River Code of Ordinances, entitled - Daily Reports To Police, shall be amended to read as follows: Haeh lieeftsee shall prepare and deliver to the ehief of pahee, by 12!00 fteatt the fir9t busiftess dfty is s: \document \ordinance \oa97 -l.doc