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Legislation #: 061354 Introduction Date: 12/7/2006
Type: Resolution Effective Date: none
Sponsor: COUNCILMEMBER BROOKS AND COUNCILMEMBER RILEY
Title: Imposing a moratoriam until June 30, 2007 on the issuance of new business and occupation licenses for signature loan, pay day loan, title loan, and similar small loan companies to conduct business within the City.

Legislation History
DateMinutesDescription
12/1/2006 Filed by the Clerk's office
11/30/2006 Referred to Finance and Audit Committee
12/13/2006 Hold On Agenda (1/3/2007)
1/3/2007 Immediate Adoption as a Committee Substitute
1/4/2007 Adopted

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COMMITTEE SUBSTITUTE FOR RESOLUTION NO. 061354

 

Imposing a moratoriam until June 30, 2007 on the issuance of new business and occupation licenses for signature loan, pay day loan, title loan, and similar small loan companies to conduct business within the City.

 

WHEREAS, the number of companies seeking to conduct signature loan, pay day loan, title loan, and similar small loan businesses within the City has been increasing; and

 

WHEREAS, the United States Congress and Missouri Governor Blunt have expressed concerns about the operation of such businesses and it is anticipated that legislation on the Federal and State levels may soon be forthcoming to regulate these businesses; and

 

WHEREAS, the Council is also concerned about accommodating such businesses within the City's commercial community; and

 

WHEREAS, the Council desires to study the impact of such businesses to avoid the establishment of new small loan businesses within the City that may be located or operated in a manner that may not conform to new ordinances that the Council may adopt after the study process and anticipated actions of Congress and the Missouri General Assembly are completed and that might otherwise undermine the effect of potential ordinance revisions before they are adopted; and

 

WHEREAS, to ensure that the Council successfully, fairly and rationally fulfills its legislative duty regarding the regulation of small loan businesses, it is necessary to temporarily preserve the status quo by imposing a moratorium to administratively delay the issuance of new business and occupation licenses for the operation of new signature loan, pay day loan, title loan, and similar small loan businesses pending Council actions; and

 

WHEREAS, the Council determines that a reasonable timeframe during which such a moratorium should be in effect is the period beginning with the date of adoption of this Resolution and continuing through and including the 30th day of June, 2007; and

 

WHEREAS, the Council has determined that it is appropriate and necessary to temporarily delay the issuance of new business and occupation licenses for the operation of new signature loan, pay day loan, title loan, and similar small loan businesses by adoption of a moratorium thereon, for the period beginning on the date of this resolutions adoption and ending on the 30th day of June, 2007, to provide the City Council with a reasonable opportunity to study possible legislative actions associated with the regulation of such businesses; NOW, THEREFORE,

 

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:


Section 1. That the Council hereby imposes a moratorium upon the issuance of new business and occupation licenses for the operation of any new signature loan, pay day loan, title loan, and similar small loan businesses not currently licensed that are not subject to charter by the State of Missouri, for the period beginning on the date of adoption of this Resolution and ending on the 30th day of June, 2007.

 

Section 2. Further that, the City Manager is hereby directed to take such administrative actions as are necessary to effectuate the moratorium declared hereunder.

 

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