§ 54-31. Definitions.

The following words, terms and phrases, when used in this article, shall have the meanings ascribed to them in this section, except where the context clearly indicates a different meaning:

Chief of police means the chief of police or his or her designee.

Digital video system means an electronic device or application software that records video in a digital format to a disk drive, universal serial bus (USB) flash drive, secure digital (SD) memory card, solid state drive (SSD) or other local or networked mass storage device.

Director of finance means the director of the finance department of the city or his or her designee.

Net assets means the book value of the current assets of a person or pawnbroker less its applicable liabilities as stated in this subsection. Current assets include the investment made in cash, bank deposits, merchandise inventory and loans due from customers excluding the pawn service charge. Current assets do not include the investments made in fixed assets of real estate, furniture, fixtures or equipment; investments made in stocks, bonds or other securities; or investments made in prepaid expenses or other general intangibles. Applicable liabilities include trade or other accounts payable; accrued sales, income or other taxes; accrued expenses; and notes or other payables that are unsecured in whole or part by current assets. Applicable liabilities do not include liabilities secured by assets other than current assets. Net assets must be represented by a capital investment unencumbered by any liens or other encumbrances to be subject to the claims of general creditors.

Pawnbroker means any person engaged in the business of lending money on the security of pledged goods or engaged in the business of purchasing tangible personal property on condition that it may be redeemed or repurchased within a fixed period of time.

Pawnshop means the location at which or premises in which a pawnbroker regularly conducts business.

Person of good moral character means a person who has not within the last five years been convicted of, or incarcerated for, any felony under the laws of any state or the United States or convicted of, or incarcerated for, any state, federal or municipal charge for burglary, theft, stealing or receiving stolen property or attempt to commit any of the preceding crimes.

(Code of Gen. Ords. 1967, § 27.8; Ord. No. 911115, 10-10-91; Ord. 041073, § 1, 1-20-05; Ord. No. 150605 , § 1, 7-23-15)

Cross reference

Definitions and rules of construction generally, § 1-10.