CR 11-094 PH - Application for the Renewal of a Currency Exchange License for Pawn America•
November 1, 2011 Council Report 2011-094
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 2011-
055, 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 2011-055
• Letter from the MN Department of Commerce
Kristine A. Luedke, City Clerk
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 2011-055, 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.
0
0 CITY OF HOPKINS
HENNEPIN COUNTY, MINNESOTA
RESOLUTION 2011-055
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 1 st day of November,
2011.
IM
ATTEST:
Kristine A. Luedke, City Clerk
Eugene J. Maxwell, Mayor
• MINNESOTA
DEPARTMENT OF
COMMERCE
September 27, 2011
Mr. Terry Obermaier, City Clerk
City of Hopkins
1010 1" Street So.
Hopkins, MN 55343
RE- Pawn A_me-rlca Minnesota; LLC — License x`20182196
Currency Exchange License Renewal for 2012
Dear Mr. Obermaier:
85 7th Place East, Suite 500
St. Paul, Minnesota 55101-2198
www.cornrnerce.state.mn.us
651.296.4026 FAX 651.297.1959
An equal opportunity employer
CERTIFIED MAIL
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, 2012, and the $550 renewal fee. If you wish to receive a copy of the complete currency
exchange license renewal application form that was 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 municipatrty 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,
'4
4on Bro
Financial Institutions Division
• 651-282-9855
651-296-8591(Fax)