CR 10-111 PH Renewal of Currency Exchange - Pawn America40
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September 29, 2010
Council Report 2010-111
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 2010-
065, 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 2010-065
• Letter from the MN Department of Commerce
Terry Obermaier, City Clerk
Financial Impact: $ Budgeted: Y/N Source:
Related Documents (CIP, ERP, etc.):
Notes:
CITY OF HOPKINS
HENNEPIN COUNTY, MINNESOTA
RESOLUTION 2010-065
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 19th day of October, 2010.
By
ATTEST:
Terry Obermaier, City Clerk
Eugene J. Maxwell, Mayor
rdM.UgNESOTA
DEPARTMENT OF 10
COMMERCE 0Q��
a1
September 27, 2010
Mr. Terry Obermaier, City Clerk
City of Hopkins
1010 1, Street So.
Hopkins, MN 55343
-`-"� -�-6 .Pawn America Minnesota; LLC License #20182196
Currency Exchange License Renewal for 2011
Dear Mr. Obermaier.
85 7th Place East, Suite 500
St. Paul, Minnesota 55101-3165
www.commerce.state.mn.us
651.296.4026 FAX 651.297.1959
An equal opportunity employer
CERTIFIED MAM
The above-named currency exchange licensee has made application to renew its currency exchange
license to operate at:
168 No. Blake Rd.
Hopkins, MN 55343
Pursuant to Minnesota Statutes Chapter 53A.04, we are notifying your office that a complete currency
exchange license renewal application has been filed with the Department of Commerce. The renewal
application included the names of the officers and owners of the licensee, background checks on each
of the owners and officers from the Minnesota Bureau of Criminal Apprehension, a fee schedule of
all fees to be charged by the currency exchange office, a $10,000 surety bond valid through
December 31, 2011, and the $550 renewal fee. If you wish to receive a copy of the complete currency
exchange license renewal application form thatwas filed with this office, please contact Lynne at
651-296-2297 and it will be forwarded to you.
Minnesota Statutes 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 law further requires the governing body of the municipality to
render a decision regarding the renewal of the license within 60 days. Your cooperation in
forwarding this information to the proper unit within your organization is appreciated.
Your reply must be received within 60 days of receipt of this letter. If you have any questions,
please contact me at the telephone number listed below.
Very truly yours,
I t
W01-No
1 Wam
Robin H. Brown
Financial Institutions Division
651-282=9855
651-296-8591 (Fax)