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4. A complete background check by the Police Department is required of all <br /> applicants. Cost of investigation is $1,500. <br />5. The pawnbroker is required to keep records of all pawned articles which <br /> shall be available for inspection by the Chief of Police. <br />6. A video or photograph is required of each person selling or pawning any <br /> item of property. <br />7. Each licensee is required to provide daily reports to the Chief of Police. <br />8. The ordinance requires a holding period of 30 days for items sold or <br /> pawned. (If necessary, the Police may put a hold requirement on an <br /> article for 90 days.) <br /> <br />The above-listed 8 items are only a few of the revisions to the existing <br />ordinance. A representative of the Police Department will be available at <br />Monday evening's meeting to review the ordinance amendment with the City <br />Council. <br /> <br />ACTION REQUESTED: <br /> <br />1. Adopt the revised Pawnshop Ordinance. <br /> <br />o <br /> <br />Adopt the attached Resolution approving publication of a summary of <br />the Pawnshop Ordinance. <br /> <br />o <br /> <br />A motion to terminate the moratorium (Ordinance 96-14) on the <br />establishments of pawnshops and the licensing of pawnbrokers within <br />the City of Elk River. <br /> <br />s :Xcouncil\p awnmemo.doc <br /> <br /> <br />