HomeMy WebLinkAbout111 - 07/20/2004 - AMENDING CHAPTER 15, ARTICLE VIII OF THE CITY CODE RELATING TO PAWNBROKERS ORDINANCE NO. 111, 2004
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AMENDING CHAPTER 15, ARTICLE VIII OF THE CODE OF THE
CITY OF FORT COLLINS RELATING TO PAWNBROKERS
WHEREAS,Chapter 15,Article VIII of the City Code contains various provisions regulating
the operation of pawnbrokers in the City in the interest of the public health, safety and welfare; and
WHEREAS, pawnbroker establishments in the City report a large number of purchase
transactions and contracts for purchase to the Fort Collins Police Services on a weekly basis; and
WHEREAS, a uniform and clear record keeping process needs to be established for
consistent use by all such businesses to promote compliance with both state and local regulations.
NOW, THEREFORE,BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1. That the definition "fixed period of time" as contained in Section 15-261 of
the Code of the City of Fort Collins is hereby amended to read as follows:
Fixed period of time shall mean that period of time, to be no less than thirty
(30) days, set forth in a contract for purchase within which the customer has the
option to cancel the contract.
Section 2. That Section 15-268(b) of the Code of the City of Fort Collins is hereby
amended to read as follows:
Sec. 15-268. Requirements for records.
(b) A copy of any record required to be kept under this Article, together with a
copy of the record of each contract for purchase or a receipt of the purchase
transaction, shall be made available to Police Services each day so that said Service
may maintain a complete record of all business transactions of the pawnbroker. It
shall be the responsibility of Police Services to pick up the copies from the
pawnbroker.
Section 3. That Section 15-269 of the Code of the City of Fort Collins is hereby amended
to read as follows:
Sec. 15-269. Minimum fixed period of time; maximum fixed price.
(a) No contract for purchase be for a fixed period of time of less than thirty
(30) days.
(b) No pawnbroker shall ask, demand or receive any fixed price that exceeds
one-fifth (1/5) of the original purchase price for each month plus the amount of the
original purchase price.
Introduced and considered favorably on first reading and ordered published this 6th day of
July, A.D. 2004, and to be presented for final passage on the 20th day of July, A.D. 2004.
Mayor
ATTEST:
City Clerk
Passed and adopted on final reading this 20th day of July, A.D. 2004.
Mayor
ATTEST:
4
City Clerk