The Chief of Police in New Hampton has resigned after keeping money he found in a self check out lane. Mayor Steve Geerts accepted the resignation of Tim Pederson yesterday. Pederson found $40 at the self checkout aisle, which he failed to turn into the customer service area of the store or the store staff and kept for himself. A short time later the owner of the money realized they had forgotten to grab the cash and returned to the store to retrieve the money. Police were contacted, who then notified Pederson of the situation. Pederson returned to the store and handed over the cash. The City says Pederson’s actions did not meet the expectations of the position of Chief of Police and he has been punished in a way nobody else would be. Pederson has accepted responsibility and the consequences for his actions.