Mo. Code Regs. tit. 11 § 45-51.090
Current through Register Vol. 49, No. 23, December 2, 2024
Section 11 CSR 45-51.090 - Disclosure of Financial ResourcesPURPOSE: The purpose of this rule is to set forth the disclosure of financial resources required for the Class A licenses.
(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;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 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 5011.090. Original rule filed June 17, 1986, effective Oct. 27, 1986. Amended: Filed June 6, 1989, effective Aug. 24, 1989. Moved to 11 CSR 45-51.090, effective Aug. 28, 1995. *Original authority: 313.580, RSMo 1986.