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9.A.6. PUBLIC HEARING - ORDINANCE 99-027 PERTAINING <br />TO REGULATION OF THE MOTOR VEHICLE TITLE <br />LOAN INDUSTRY <br />PROOF OF PUBLICATION OF ADVERTISEMENT FOR HEARING IS ON FILE IN THE OFFICE OF THE <br />CLERK TO THE BOARD <br />The Board reviewed a Memorandum of September 7, 1999: <br />TO: Board of County Commissioners <br />FROM: Charie�tun�ac County Attorney <br />DATE: September 7, 1999 <br />RE: Public Hearing -Title Loan Ordinance <br />The attached proposed ordinance would limit the interest charged by title loan <br />companies to 30% per year and is essentially the same ordinance enacted in <br />Palm Beach County. A copy of a summary of similar actions throughout Florida <br />is attached for your information. <br />A public hearing date of September 14, 1999 was set by the Board of County <br />Commissioners. <br />Assistant County Attorney Terry O'Brien explained that in 1995 the Legislature had <br />enacted the Florida title law act which allowed interest rates of up to 264%. Numerous <br />counties have now adopted an ordinance limiting these rates to 30%. He then introduced <br />Jackie Dowd, Assistant Attorney General for the State of Florida. <br />SEPTEMBER 28, 1999 <br />