04-0709R


RESOLUTION APPROVING THE ISSUANCE OF A MINNESOTA

CURRENCY EXCHANGE LICENSE TO CASH STATION LLC, DBA MONEYXCHANGE.

BY COUNCILOR STEWART:

     WHEREAS, Cash Station LLC, dba MoneyXchange, has applied to the Minnesota department of commerce for a license to transact the business of a currency exchange at its offices at 101 East Superior Street; and

     WHEREAS, the Duluth City Council has received a copy of the license application from the director of licensing of the department of commerce and can object to the issuance of said license; and

     WHEREAS, the Duluth City Council has no objection to the issuance of said license to transact the business of a currency exchange.

     NOW, THEREFORE, BE IT RESOLVED, that the Duluth City Council hereby approves of the Minnesota department of commerce issuing a license to conduct the business of a currency exchange at 101 East Superior Street to Cash Station LLC, dba MoneyXchange.


STATEMENT OF PURPOSE: By Minnesota Statute 53A-04, the Minnesota Legislature enacted changes to the licensing law under which currency exchanges are regulated. The governing body of th

e city in which the currency business is going to operate must concur in the issuance of a currency exchange license by the commissioner of commerce.