(1) Every secondhand dealer shall pay to the city a transaction fee for each transaction record involving a purchase by the secondhand dealer of any secondhand property. The amount of the transaction fee shall be set by the director in accordance with the provision of section 2-587.

(2) Transaction fees collected by the secondhand dealer shall be paid to the city on a quarterly basis.

(3) If the secondhand dealer fails or refuses to pay any and all transaction fees when due by this section there shall be added to the deficiency a penalty equal to 10 percent of the total amount of such deficiency, which deficiency and penalty shall become due and payable 10 days after written notice and demand is given to the secondhand dealer by the finance director. (Ord. No. 2022-49, § 3, 10-10-2022; Ord. No. 2012-55, § 4, 1-7-2013; Ord. No. 2005-92, § 20, 12-5-2005; Ord. No. 2002-17, § 9, 4-15-2002; Ord. No. 98-86, § 17, 11-30-1998)