Mo. Code Regs. tit. 11 § 45-53.070
Current through Register Vol. 49, No.12, June 17, 2024
Section 11 CSR 45-53.070 - Disclosure of Financial ResourcesPURPOSE: This rule sets forth the disclosure of financial resources required for the Class D licenses.
(1) An applicant for a Class D license must disclose the following with regard to financial resources: (A) An audited financial statement of each of the three (3) previous fairs for which pari-mutuel wagering is proposed. 1. If the application is for a fair which has not been conducted in each of the three (3) previous years, audited financial statements must be provided for all previous fairs.2. If the application is for a fair which has never been conducted, applicant must so state;(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;E. The nature and amount of present commitment; and2. For each source of debt contribution the following information must be provided: A. Identification of the source;E. Identity of guarantors, if any;F. Nature and amount of commitments; and3. If the applicant anticipates obtaining further equity or debt contributions, the applicant must disclose the plans for obtaining the 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. AUTHORITY: section 313.580, RSMo 1986.* This rule originally filed as 12 CSR 5013.070. Emergency rule filed June 5, 1986, effective June 15, 1986, expired Oct. 13, 1986. Original rule filed June 12, 1986, effective Oct. 27, 1986. Moved to 11 CSR 4553.070, effective Aug. 28, 1995. *Original authority: 313.580, RSMo 1986.