CR 99-194 Renew Currency Exchange License for Pawn Amercia•
October 13, 1999 Council Report 99 -194
RENEW CURRENCY EXCHANGE LICENSE FOR
PAWN AMERICA
Staff recommends that the City Council take no action.
This will result in the license being automatically issued within 60 days of
September 15, 1999.
Overview
Pawn America has applied to the State Department of Commerce for the renewal
of their Currency Exchange License. The City Council approved this license as a
new license this year. The City is required to respond within sixty days of
receiving the notification of application. The application was received on
September 15, 1999. If the City does not respond within sixty days, concurrence
is presumed and the license is issued by the state.
Primary Issues to Consider
State Statute, Chapter 53A.04 requires the Department of Commerce to submit
any application for licensure as a currency exchange to the governing body of the
municipality in which the currency exchange conducts business. The City is then
required to hold a public hearing. The Statute requires that the City have cause for
denial if denying the application and states that the applicant may demand an
administrative hearing if denied. The Hopkins Police Department has found no
reason to deny the license.
Council may choose to do nothing (concurrence will be presumed) or Council may
order the public hearing. If a public hearing is to be held, a notice must be
published. Because of the expense of notification and the time required for a public
hearing, staff is recommending that the Council achieve the same end results by
doing nothing.
Supporting Documents
• Complete application available in City Clerk's office
erry 0
maier, City Clerk