GRAND JUNCTION – A Grand Junction area trustee has announced that he is resigning less than 48 hours after winning the election.

Jesse Loughman says he is giving up the Palisade office so he can keep his five marijuana licenses.

He owns Palisade’s only retail and medical marijuana stores.

The Daily Sentinel reports Palisade trustees are the licensing authority for the town’s marijuana businesses and therefore cannot hold a marijuana license.

Loughman submitted his resignation on Thursday after learning the rules.

He had also been elected by his fellow trustees to serve as mayor pro-tem and would have been responsible for assuming mayoral duties in the mayor’s absence.

Mayor Roger Granat says Jessica Bond, the candidate with the next most votes, will be taking Loughman’s place.