HomeMy WebLinkAbout00533OROINANCS NO 533
AN ORDINANCE entitled and Ordinance defining and relating to Pawnbrokers
BS IT ORDAINED BY THE; CITY COUNCIL OF THE CITY OF PU„BLO, COLORADO.
Section 1.
It shall be unlawful for any corporation, company or person to establish or
conduct the business of pawnbroker within the City of Pueblo, unless such corporation
company or person shall have first procured a license from the Mayor under his hand
and seal, and executed a bond payable to the people of the State of Colorado for
the use and benefit of the City of Pueblo, approved by the Mayor and conditioned as
hereinafter provided.
Section 2.
Before the Mayor shall grant a license to any person, company or corporation
for tarring on the business of a pawnbroker, such person, company or corporation
desiring said license shall present to the City Council at a regular meeting, an
application for such license, specifying in such application the amount of capital
proposed to be used, designating the place, street and number where the said pawn -
broking business is to be carried on by said applicant accompanying said application
with satisfactory evidence of the good character of said applicant and thereupon
the said applicant shall be considered by the City Council and is a majority of all
members of said Council vote in favor of granting the license prayed for, the Mayor
shall thereupon issue the same upon a compliance with the requirements of this
ordinance.
(see Ord- Section 3.
inance No
733) Before the City Council shall order the granting of a license to carry on the
business of pawnbroker,: the person, company or corporation desiring the same shall
pay therefor to the City Clerk, whose certificate that he has received such sum shall
be endorsed upon the application the sum of three hundred (300) dollars fo a license
for the period of one year (1), or dollars for a period of six (6) months
or dollars for a period of three (3) months, and no license shall issue
under this Ordinance for a period of less than three (3) months.
Section 4.
The bond to be entered into by the person or person, company or corporation
licensed, shall be in the sum of two thousand dollars ($2,000) with two (2) or
more sufficient sureties thereon to be appoved by the Mayor, conditioned for the due
observanse of all the Ordinances of the City of Pueblo and regulations of the Mayor
and Municipal authorities thereof, inforce respecting pawnbrokers or that may be
passed and in force at any time during the continuance of said license and for the
safekeeping and return of all articles held in pawn by said pawnbroker, in accordance
with this Ordinance and the provisions of the Act of the General Assembly of the
State of Colorado, relating the pawnbrokers, approved March 31, 1897.
Section 5.
Every pawnbroker shall keep a book in which shall ba clearly written at the
time of each 16an an accurate account and description of the goods, articles or
things pawned, the amount of money loaned thereon, the time of pledging the same,
the rate of interest to be paid on such loan and the name and residence of the person
pawning or pledging the said goods, articles or things.
Section 6.
Every pawnbroker shall at the time of each loan deliver to the person pawning
or pledging any goods, articles or things, a memorandum or note signed by him
or har containing the substance of the entry reiuired to be made in his or her book
by the preceding section and no charge shall be made or received by any pawnbroker
for any such entry, memorandum or note.
Section 7.
The said books shall at all times be open to the inspection of the Mayor,
r
Marshall or Chie? of Police, Captains of Police, the Police officers, the P lice
Magistrates, or any or either of them or any person wht shall be duly authorized
in writing by the Mayor or Chief of Police, and who shall exhibit such written
authority to the pawnbroker.
Section 8.
No pawnbroker shall ask, demand or receive any greater rate of interest,
commission or compensation, and the same shall be computed upon the amount of money
actually advanced, than at the rats: of three (3) per cent a month or a fractional
part of a month upon any loan or loans made by him or her; and no other charge shall
be made by said pawnbroker than herein provided.
Section 9.
No pawnbroker shall sell any pawn or pledge until the same shall have re- -
mained six (6) months after maturity of loan in his or her possession, nor until
he shall have given the pledgor ten (10) daJ *s notice by mail, stating the time
within which he mist redeem his or her property, such mail to be addressed to the
post office designated by the pledgor as his or her proper post office address.
Section 10.
If the pledgor neglects to redeem such property it may be sold at auction and
all sales shall be at public auction and not othertid.se, and shall be made and con-
ducted by such actioneer as shall be approved of for that purpose by the Mayor.
Section 11.
Notice of such sale shall be published for at least ten (10) days previous
thereto in one daily newspaper printed in the City and such notice shall specify -
the time and place at which the sale is to take place, the name of the auctioneer,
by whom the same is to be conducted and a description of the goods or articles to
be sold.
Section 12.
The surplus money, if any, arising from such sale, after deducting the amount
of the loan, the interest then due on the same, and the expenses of advertisement
and sale, shall be paid over by the pa.mb.roker to the person or persons who have
been entitled to redeem the pledge, provided that the expense of sale exclusive of
the cost of advertising, shall not exceed five (5) per cent of the amount realized.
Section 13.
All nurcrase of personal property by _pawnbrokers, in the course of their
business, with an agreement,-'.expressed or implied, to resell the same to the person
pledging the same, shall prima facie be considered loans within the meaning of
this ordinance.
Section 14.
No pawnbroker shall make any loan to any person under the age of twenty -one
years 022 ar{y article or things.
Section M.
Any pawnbroker, licensed and operating undf - the provisions of this Ordinance
shall provide a safep� ace for the safe keeping of the pledges received by him or
harp and shall have sufficient insurance on the property held by him or her as
pledges, for the benefit of the pledgor of the property to pay one -half_ the real
value thereof in case of fire; which policy shall be deposit &Uwith the Mayor
as a quarantee and the loss if any thereunder shall be payable to the Mayor in trust
for the use and benefit of the respective pledgors of property with such pawnbroker
as thier interests may respectively appear; but neither the pawnbroker or his bondsmen
shall be relieved from tbsponsibilty by reason of such fire, nor from any cause
whatsoever.
Section 16.
Any person or persons, company or corporation loaning money on personal property
and charging as much as the maximum rate of interest lerein provided, shall be: deemed
a pawnbroker.
Section 17,
The book to be kept by all persons making loans under the prove&lons of this
Ordinance shall be a well bound book and shall be ruled in blank, showing the number
of the loan, name and address of pledgor, artilces 111-edged amount of loan rate of
interest per month, time loan is to run and when due, the date when such pledge is
redeemed the date of sending notice to such pledgor, when advertised, when sold
the amount realized therefor, excess over loan and interest, the name and address
of the purchaser.
,(see Ordi- Section 18.
nance No,
733) Every person, company or corporation who shall violate, neglect fail or refuse
to comply with any or either of the provisions of this Ordinance shall, upon con-
viction be fined in a sum not less than fifty (50) dollars nor more than one hundred
(100) dollars for each and eery offense.
Section 19
All ordinances in conflict therewith are hereby repealed.
Approved
J.B. Orman - Mayor
Passed by the Council - March 7, 1898
Approved by the Mayor - March 10, 1898
Attest
(seal) Oscar 9. McNeil - Clerk
First published - March 12, 1898