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<br />REQUEST FOR CITY COUNCIL ACTION <br /> <br /> <br />DATE: 11/13/00 <br />ITEM NO: H-l <br /> <br />Agenda Section: <br />HEARING <br /> <br />Pawn America request to renew currency exchange company/license for <br />the year 2001, property located at 1715 North Rice Street. (PF 3269) <br /> <br /> <br />1.0 REQUESTED ACTION <br /> <br />1.1 Pawn America has applied to the Minnesota Department of Commerce for renewal of a <br />Currency Exchange Company at 1715 North Rice Street (license #20186066). <br /> <br />1.2 Minnesota Statutes Chapter 53A.04 requires the Department of Commerce to submit any <br />application for licensure as a currency exchange to the governing body of the <br />municipality in which the currency exchange conducts business. The law further requires <br />the governing body of the municipality to render a decision regarding the renewal of the <br />license within 60 days. <br /> <br />1.3 State law also requires the governing body (city) to give published notice of its intention <br />to consider the issue and solicit testimony from interested persons, including those in the <br />community in which the applicant is located or proposed to be located. <br /> <br />2.0 BACKGROUND <br /> <br />2.1 Minnesota Statute 53A.04(a) states: "Within 30 days after receipt of a completed <br />application, the commissioner shall deny the application or submit the application to the <br />governing body of the local unit of government in which the applicant is located or is <br />proposing to be located. The commissioner may not approve the application without the <br />concurrence of the governing body. The governing shall give published notice of its <br />intention to consider the issue and shall solicit testimony from interested persons, <br />including those in the community in which the applicant is located or proposing to be <br />located. If the governing body has not approved or disapproved the issue within 60 days <br />of receipt of the application, concurrence is presumed. The commissioner must approve <br />or disapprove the application within 30 days from receiving the decision from the <br />governing body. The governing body shall have the sole responsibility of its decision. <br />The state shall have no responsibility for that decision." <br /> <br />2.2 The subject property, 1715 North Rice Street, is the current Pawn America facility <br />located in the McCarrons Hills Shopping Center at the northwest corner of Larpenteur <br />A venue and Rice Street. <br /> <br />PF3269 - RCA (111300) Page 1 of2 <br />