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i���TE.S"F F�i� E; ��''r' ��[J i�dC'� 1� }4{�'�' �€� f�d <br />Department Approval: <br />TP <br />� ���,;17���r��l: <br />�'-i�l�.� <br />DATE: 11 / 13 /06 <br />I'�"EM NO: �. <br />Agenda Section: <br />T�iEARtI�i� <br />itri�x 1]cx4�iqa���x: �urre�i��' �'. k{`•I7 �Yi'�.i� r�$� ]���+�:t31'ar ���f: � ����r_il 3'i�s�i5���: <br />��uk;��ti�u�. ti{�,n�i;�-.k, ]�iti- �Pt'�r��'�� <br />9_[E REQUESTED ACTION: <br />�; } <br />The following organization has applied to the Minnesota Department of Commerce and <br />the City of Roseville for the annual renewal and approval of their Currency Exchange <br />Licenses for the calendar year 2007: <br />Global Financial Outsource Services, Inc. (License #20343044), 2216 County <br />Road D(dba Universal Check Cashing). <br />�.� 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 />7.� <br />�,� <br />State Statutes also require the City to published notice of its intention to consider the <br />issue and solicit testimony from interested persons prior to tal�ing action on the renewal. <br />BACKGROUND: <br />�. ] Minnesota Statute ��,-'�,�'r�{�� states: "Within 30 days after receipt of a completed <br />application, the commissioner shall deny the applicationor submit the application to the <br />governing body of the local unit of gqvernme�t in which the applicant is located or is <br />proposing to he 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 responsihility of its decision. <br />The state shall have no responsibility for that decision." <br />F�a : A{� „R�'r�_ ]]] 3� .dac Page 1 of 2 <br />