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REQUEST FOR ACTION <br />To Item Number <br />Cit ~ Council 7.1- <br />Agenda Section Meeting Date Prepared by <br />Administration November 19, 2007 Tina Allard, Citv Ciexk <br />Item Description Reviewed by <br />Consider Currency Exchange License Renewal fox Wal-Mart, Lori ohnson, Ci Administratar <br />Public Hearing Reviewed by <br />Action Requested <br />• Hold a public hearing. <br />• Council motion approving a currency exchange license renewal fox 2008 for Wal-Mart Stores, <br />Inc. operating at 18185 Zane Street. <br />Background/Discussion <br />State Statute 53A.04 requires the city publish a notice and 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 />The Commissioner of Commerce issues the license; however, the application ox 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 Jeffrey Beahen, he stated he did not have concerns. <br />Renewal notice was received October 9, 2007, and the City Council is required to render a decision <br />regarding the renewal of the license within 60 days. <br />Financial Impact <br />N/A <br />Attachments <br />Letter from Minnesota Department of Commerce <br />State Statute 5311.04 <br />Action :Motion by Second by vote <br />Follow Up <br />S:ACouncilVClerltVCuxaency ExchangeA Wal-Mar[ OB.doc <br />