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merchandise dealer shall keep a paper record of each purchase bearing <br />the signature of the customer for a period of one year. <br />(4) Reporting requirements <br />(a) Within 12 hours of a purchase, a used merchandise dealer shall input <br />and transmit the recorded information required under subsection (2) <br />using the automated electronic reporting system approved by the city. <br />(b) Only reports containing complete information shall be deemed to comply <br />with this section. <br />(c) In the event that the automated electronic reporting system becomes <br />inoperable, a used merchandise dealer's computer system becomes <br />inoperable, or other event that makes reporting within the time allowed <br />by subsection (a) of this subsection impossible, the used merchandise <br />dealer shall immediately report the occurrence of such event to the chief <br />of police. The chief of police may suspend the reporting requirements of <br />subsection (a) of this subsection for a reasonable period until electronic <br />reporting can resume. Once the chief of police determines that reporting <br />can resume, used merchandise dealers must, within 12 hours, input and <br />transmit the information required under subsection (2) for all purchases <br />made during any period reporting was suspended by the chief of police <br />using the approved automated electronic reporting system. <br />(5) Reporting fees The city manager shall establish fees for the use of an <br />automated electronic reporting system in accordance with the procedures of <br />section 2.020 of this code. Such fees shall reflect the costs associated with <br />providing electronic automated reporting system services to used <br />merchandise dealers. Used merchandise dealers shall be charged the fees <br />on an annual basis, and the fees shall become due 45 days after the date <br />billed. <br />(6) Limitations on the purchase of regulated property <br />(a) A used merchandise dealer shall not: <br />1. Purchase regulated property with serial numbers, personalized <br />inscriptions or initials, or other identifying marks, which are or <br />have been altered, obliterated, removed, or otherwise rendered <br />illegible; <br />2. Purchase regulated property from a person under the age of 18 <br />years; <br />3. Purchase regulated property from a person who is obviously <br />under the influence of drugs or intoxicating liquor; <br />4. Knowingly purchase regulated property from a person who is not <br />the owner of the regulated property or parent or guardian of the <br />owner of the regulated property; or <br />5. Remove gemstones from jewelry or alter jewelry at the time of <br />purchase or thereafter, or ask the seller to remove gemstones or <br />alter jewelry at time of purchase. <br />(b) A used merchandise dealer shall comply with all applicable federal, <br />state, and local laws and regulations. <br />(7) Limitations on the sale of regulated property <br />(a) Regulated property purchased by any used merchandise dealer shall <br />not be sold for a period of 14 full days after the date the report required <br />in subsection (3) is received by the city. The used merchandise dealer <br />shall maintain the purchased property in substantially the same form as <br />purchased and shall not commingle the property in a manner that <br />precludes identification during this 14 -day holding period. The <br />Ordinance - Page 3 of 5 <br />