11 CSR 45-51.090 - Disclosure of Financial Resources
(1) An
applicant for a Class A license must disclose the following with regard to
financial resources:
(A) An audited financial
statement reflecting the applicant's current assets including investments in
affiliated entities, loans and advances receivable and fixed assets and current
liabilities including loans and advances payable, long-term debt and equity.
(The commission may require additional financial information from each equity
and/or debt source.);
(B) Equity
and debt sources of funds to develop and operate the horse racing facility for
which the license is requested-
1. For each
source of equity contribution the following information must be included:
A. Identification of the source;
B. The amount;
C. The form;
D. Method of payment;
E. The nature and amount of present
commitment; and
F.
Documentation;
2. For
each source of debt contribution the following information must be provided:
A. Identification of the source;
B. The amount;
C. Terms of the debt;
D. Collateral, if any;
E. Identity of guarantors, if any;
F. Nature and amount of commitments;
and
G. Documentation; and
3. If the applicant anticipates
obtaining further equity or debt contributions, the applicant must disclose the
plans for obtaining commitments; and
(C) Identification and description of sources
of additional funds, if needed, due to cost overruns, nonreceipt of expected
equity or debt funds, failure to achieve projected revenues or other
cause.
Notes
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