CR 99-93 Set Date & Order Public Hearing App to Operate as a Currency Exchange Company Pawn America Mn LLC
e May 14, 1999 Council Report 99-093
SET DATE AND ORDER PUBLIC HEARING
APPLlCA TION TO OPERATE AS A CURRENCY EXCHANGE COMPANY
PAWN AMERICA MINNESOTA L.L.C.
Staff recommends approval of the following motion: Move to hold a public hearinq
on June 1. 1999, to consider the application of Pawn America for a license to
operate as a currency exchanae company at 168 Blake Rd North.
Overview
Pawn America has applied to the Department of Commerce for a license to operate
as a currency exchange company, check cashing company. State Statute requires
the City to hold a public hearing. The application must be approved or denied
within 60 days. If the City does nothing, approval will be presumed. If there are
specific questions that you would like staff to research prior to the public hearing,
please call the City Clerk at 939-1330. The Police Department and the City
Attorney are reviewing the application.
e Primary Issues to Consider
. Who issues the license and oversees the operations of the business?
The Department of Commerce issues the license and is the regulatory
agency. They have conducted an investigation of all the parties involved in the
corporation. State Statute governs how the operation is run and the amount of
fees that can be charged. The license is renewed annually and is in effect for the
calendar year.
. Is a public hearing mandatory?
According to the Statute, the City must hold a public hearing within 60 days
of receipt of the application. If the City neither approves nor denies the application
in that period of time, the Commissioner will assume approval and issue the
license.
SUDDortinQ Documents
. Copy of letter from the Minnesota Department of Commerce
. Copy of complete application is available in the City Clerk's office
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, ;"'<\~-,~ MINNESOTA DEPARTMENT OF COMMERCE
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May 6, 1999
Ms. Terry Obermaier
City Clerk
City of Hopkins
1010 First Street South
Hopkins, MN 55343
Dear Ms, Obermaier,
Enclosed is an application by Pawn America Minnesota L.L.C., to operate as a
currency exchange company at 168 North Blake Road, Hopkins, Minnesota
55343. Minnesota Statute 53A.04(a) states:
e "Within 30 days after the receipt of a complete application, the commissioner
shall deny the application or submit the application to the governing body of the
local unit of government in which the applicant is located or is proposing to be
located. The commissioner may not approve the application without the
concurrence of the governing body. The governing body shall give published
notice of its intention to consider the issue and shall solicit testimony from
interested persons, including those in the community in which the applicant is
located or is proposing to be located, If the governing body has not approved or
disapproved the issue within 60 days of receipt of the application, concurrence is
presumed_ The commissioner must approve or disapprove the application within
30 days from receiving the decision of the governing body. The governing body
shall have the sole responsibility for its decision. The state shall have no
responsibility for that decision."
. 133 East Seventh Street, St. Paul, MN 55101-2333
Telephone (651) 296-2135 . Fax (651) 296-8591 · TIyrrDD (651) 296-2860
e-mail: financial@statc.mn.us
Web Site: www.commercc,statc.mn.us
An Equal Opportunity Employer
.
Ms, Terry Obermaier
May 6, 1999
Page 2
A copy of the completed application submitted to this department is enclosed for
your review and approval. Per Janet Nichols of Pawn America Minnesota LLC"
a copy of the application was also submitted to you on or about April 28, 1999.
Please respond back in writing within 60 days of the receipt of this notice as to
the decision of the governing body regarding the application for the currency
exchange operation_ If I do not hear from you within 60 days, approval will be
presumed and the license will be issued. If you have any questions, please call
Senior Examiner Leah Grobove at (651) 296-2297.
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Kevyl M. Murphy ,
Deputy Commissioner
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Encl.
cc. Ms, Janet Nichols
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