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724.08 - EXECUTION OF APPLICATION If application is by a natural person, it shall be signed and sworn to by such person; if by a corporation, by an officer thereof; if by a partnership, by one of the general partners; if by an incorporated association, by the operating officer or managing officer thereof. If the applicant is a partnership, the application, license and bond shall be made and issued in the name of all parUners. Any false statement in an application shall result in denial or revocation of the application. 724.10 - GRANTING LICENSES At the time of making an initial or renewal application, the applicant shall, in writing, authorize the Police Department to investigate all facts set out in the application and do a personal background and criminal record check on the applicant. The applicant shall further authorize the Police Department to release information received from such investigation to the City Council. 2. Each license shall be issued to the applicant only and shall not be transferable. 3. A separate license is required for each pawnshop. Each license shall be issued only for the premises described in the application and shall not be transferable to a different location or owner. 4. No more than three (3) licenses shall be issued by the City at any time and priority shall be given to qualified applicants for renewal of existing license. 5. A public hearing shall be held and the hearing before the City Council shall be advertised at least 10 days prior to the scheduled date of the hearing. 724.12 - LICENSE FEES Initial application and background investigation fees, as well as annual license fees, shall be determined on an annual basis by the City. 724.14 - BOND REQUIRED At the time of filing an application for a license, the applicant shall file a bond in the amount of Five Thousand Dollars ($5,000) with the City. The bond, with a duly licensed surety company as surety thereon, must be approved as to form by the City Attorney.