CR 2003-154 Public Hearing Application For the Renewal Of a Currency Exchange License For Pawn AmericaOctober 3, 2003 Council Report 2003 -154
PUBLIC HEARING
APPLICATION FOR THE RENEWAL OF A CURRENCY EXCHANGE LICENSE
FOR PAWN AMERICA
Proposed Action
Staff recommends adoption of the following motion: Move to adopt Resolution 2003-
93, Resolution Approving the Renewal of a Currency Exchange License for Pawn
America.
Overview
Pawn America has applied to the Department of Commerce for a renewal of their
Currency Exchange License. This License will allow them to continue to operate their
"check cashing" service.
Primary Issues to Consider
• The Regulatory Agency is the Department of Commerce
• What is the process
Supporting Information
• Resolution 2003 -93
• Copy of complete application is available at the City Clerk's office
Terry Obermaier, City Clerk
Financial Impact: $ Budgeted: Y/N Source:
Related Documents (CIP, ERP, etc.):
Notes:
Council Report 2003 -154
Page 2
Primary Issues to Consider
• The Regulatory Agency is the Department of Commerce
The Department of Commerce issues the license and regulates the license according to
Chapter 53A of the State Statute. The City of Hopkins does not get involved in
monitoring the activity other than the normal activities that are regulated by the pawn
shop licensing process.
Each year, before the license is renewed, the licensee is required to submit a financial
report to the licensing agency.
The Department of Commerce has done a background check on all of the principles
and managers of the corporation. The background check was completed by the
Minnesota Bureau of Criminal Apprehension. Nothing was discovered in this
investigation to cause the application to be denied.
• What is the Process?
States Statute dictates the process for the application. The Department of Commerce
has 30 days from the date of receipt of the application to deny the application or to
send the application to the local jurisdiction. The local jurisdiction must hold a public
hearing. If the City approves or denies the application, a resolution showing findings of
fact for the approval or denial is sent to the Department of Commerce within 60 days of
receipt of the application. The Commissioner cannot issue the license without approval
of the local jurisdiction.
If the City denies the application, the applicant has the opportunity to request a hearing
pursuant to Chapter 14 of the State Statues. The City is responsible for the hearing
and the cost of the hearing before an administrative law judge. Any denial must show
substantial evidence findings to support the denial. The denial cannot be arbitrary or
capricious.
If the City does nothing, after 60 days the Commissioner will assume approval and
issue the license.
• Alternatives
1. Adopt Resolution 2002 -96, approving the application for a currency exchange
license renewal for Pawn America.
2. Do nothing, approval will be assumed within 60 days of receipt of the application.
3. Deny the application. If the application is denied, findings of fact must substantially
support denial.
Staff recommends alternative one.
CITY OF HOPKINS
HENNEPIN COUNTY, MINNESOTA
RESOLUTION 2003 -93
RESOLUTION APPROVING THE RENEWAL OF A CURRENCY EXCHANGE LICENSE
FOR PAWN AMERICA, 168 BLAKE ROAD NORTH
WHEREAS, Pawn America has applied to the Commissioner of the
Department of Commerce for the renewal of their Currency Exchange License, and;
WHEREAS, The City of Hopkins has held the required public hearing and;
WHEREAS, No reason could be found to deny the applicant,
NOW, THEREFORE BE IT RESOLVED that the City Council of the City of Hopkins
does hereby approve Pawn America's application for the renewal of their Currency
Exchange License.
Adopted by the City Council of the City of Hopkins this 21" day of October, 2003.
ATTEST:
Terry Obermaier, City Clerk
By
Eugene J. Maxwell, Mayor