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ORDINANCE NO. 94- 677 AN ORDINANCE ADDING A NEW SECTION 812 TO, AND AMENDING SECTION 1405. 00 OF, THE CITY CODE REGARDING PAWNBROKERS AND PRECIOUS METAL DEALERS THE CITY OF MINNETONKA DOES ORDAIN: Section 1. The Minnetonka City Code is amended by the addition of a new Section 812 to read as follows: Section 812 - Pawnbrokers and Precious Metal Dealers Licenses 812 . 00 Purpose. The City Council finds that pawnbrokers and precious metal dealers potentially provide an opportunity for the commission and concealment of crimes. Such businesses have the ability to receive and transfer stolen property easily and quickly. The City Council also finds that consumer protection regulation is warranted in transactions involving pawnbrokers and precious metal dealers. The purpose of this section is to prevent pawnbroking and precious metal businesses from being used as facilities for commission of crimes and to ensure that such businesses comply with basic consumer protection standards, thereby protecting the public health, safety and general welfare of the citizens of the City. 812 . 05 Definitions. 1. "Item containing precious metal" means an item made in whole or in part of metal and containing more than one percent by weight of silver, gold or platinum. 2 . "Minor" means any natural person under the age of 18 years. 3 . "Oversized items" means large items such as cars, boats, and other motorized vehicles and motorized equipment. 4 . "Pawnbroker" means a person who loans money on deposit or pledge of personal property or other valuable thing;' who deals in the purchasing of personal property or other valuable thing ' on condition of selling the same back again at a stipulated price; or who loans money secured by chattel mortgage on personal property, taking possession of the property or any part thereof so mortgaged. To the extent that a pawnbroker business includes buying personal property previously used, rented, or leased, the provisions of this section shall be applicable. Any bank, savings and loan association, or credit union shall not be deemed a pawnbroker for purposes of this section. 5 . "Person" means one or more natural persons; a 41, partnership, including a limited partnership; a corporation;