The following information was taken from:
http://www.ci.minneapolis.mn.us/citywork/public-
works/transportation/bicycles/before.html

Minnesota Bike Registration
1. Increases the likelihood of recovering your bike if it is stolen.

2. Insures that if you are injured in a bicycling accident, you can be quickly identified by your bicycle license or serial number.

3. Benefits bicyclists because bike registration fees are spent on bicycle programs and facilities in Minnesota.

4. Bicycle registration is mandatory at the University of Minnesota and in the City of Minneapolis. The U of M Police Department or any Minnesota Vehicle Registration station can register your bike. Registration costs $10.00 and is valid for three years anywhere in Minnesota.

Bicycle Licenses
Bicycle registration is mandatory in the City of Minneapolis. Licenses, which are issued by the State of Minnesota, cost $10 and are valid for 3 years.
You can register your bicycle at the University of Minnesota Police Department, Minneapolis Park Board Police headquarters (3800 Bryant Ave S), or one of five Hennepin County Service Centers. For more information, call 348-8240 or click here to find the nearest Hennepin County Service Center.

Places to Register Your Bike
These addresses were listed at the following web address:
http://www.ci.minneapolis.mn.us/citywork/police/ccp-safe/tips/bicycletheft.html

U of M Police Department
511 Washington Avenue Southeast (1st floor)
Minneapolis, MN 55455
(612) 624-3550
  
Hennepin County Government Center
300 South 6th Street
Minneapolis, MN 55487
(612) 348-8240
  
Minneapolis Park Police
3800 Bryant Avenue South
Minneapolis, MN 55409
(612) 370-4777 (Call before stopping in.)