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<br /> <br />City of Elk River <br />REQUEST FOR COUNCIL ACTION <br />Agenda Section Meeting Date <br />Administration October 16, 2006 <br />Item Description <br />Omsider the Renewal of the Currency Exchange License for <br />Wal-Mart Stores, Inc. at 18185 Zane Street, Public Hearin <br /> <br />Item Number <br />5.2. <br />Prepared by <br />oan Schmidt, Ci Oerk <br />Reviewed by <br /> <br />Introduction <br />State Statute requires the City to publish a notice and to conduct a public hearing regarding applications <br />and renewals for currency exchange licenses. Wal- Mart Stores, Inc. has applied to the Minnesota <br />Department of Commerce to renew its currency exchange license to operate at 18185 Zane Street. <br /> <br />Discussion <br />The Commissioner of Commerce issues the license, however, the application or renewal cannot be <br />approved by the Commissioner without the concurrence of the governing body of the local unit of <br />government. In consulting with Police Chief Beahen, he stated that he did not have concerns. <br /> <br />The renewal application was received on September 26, 2006 and the City Council of Elk River is <br />required to render a decision regarding the renewal of the license within 60 days. <br /> <br />Financial Impact <br />N/A <br /> <br />Attachments <br /> <br />. Letter from Minnesota Department of Commerce <br />. State Statute 53A04 <br /> <br />Action Requested <br />Council motion approving a Currency Exchange license renewal for 2007 for Wal- Mart Stores, Inc. <br />operating at 18185 Zane St. <br /> <br />Council Action <br /> <br />Motion by _ <br /> <br />Second by _ <br /> <br />Vote <br /> <br />Follow Up <br /> <br />S:\Council\J oan \Gu-rency Exchange \ Wal-mart 2006.doc <br />