HomeMy WebLinkAbout7.B. 2007 Currency Exchange License-Res. No. 6540
CITY OF SHAKOPEE ~8,
Memorandum
TO: Mayor and City Council
Mark McNeill, City Administrator
FROM: Judith S. Cox, City Clerk
SUBJECT: 2007 Currency Exchange License
DATE: November 28, 2006
INTRODUCTION AND BACKGROUND
The City Council is asked to consider an application for renewal of a currency exchange license.
The license will allow the applicant to engage in the. business of cashing checks, drafts, money
orders, or travelers' checks for a fee.
Game Financial Corporation, 1100 Canterbury Road, has made application for renewal of their
currency exchange license.
You may remember that the City has previously approved a license for this applicant. The license
is ultimately issued by the State of Minnesota. Current law requires that the local municipality
approve or deny the issuance of a license, after published notice and a public hearing.
The applicant has provided the State with the required $10,000 Currency Exchange Surety Bond.
The Police Department has advised me that they are unaware of any reason for the City of
Shakopee to object to the granting of a currency exchange license to the applicant.
VISIONING RELATIONSHIP
Goal A: Active and Healthy community
Strategies: 2. Enhance physical, mental, spiritual health and 4. Improve individual financial health
RECOMMENDED ACTION
Offer Resolution No. 6540, A Resolution Approving the Application of Game financial
Corporation for a Currency Exchange License, and move its adoption.
i:licenses/currency .res
RESOLUTION NO. 6540
A RESOLUTION OF THE CITY OF SHAKOPEE, MINNESOTA,
APPROVING THE APPLICATION OF GAME FINANCIAL CORPORATION
FOR A CURRENCY EXCHANGE LICENSE
WHEREAS, in 1992 Minnesota Statute Section 53A.04 was amended to require a City to
approve or disapprove a proposed currency exchange license; and
WHEREAS, Game Financial Corporation has applied for a currency exchange license for a
location at 1100 Canterbury Road; and
WHEREAS, the City has given published notice of its intention to consider this issue, has
solicited testimony from interested persons, and finds that the applications should be approved.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
SHAKO PEE, MINNESOTA, that it approves the granting of a currency exchange license to Game
Financial Corporation, 1100 Canterbury Road.
Adopted in Regular Session of the City Council of the City of Shakopee, Minnesota, held
this 5th day of December, 2006.
Mayor of the City of Shakopee
ATTEST:
City Clerk