Loading...
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