|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ch. 309
|
|
|
|
|
|
2000 LAWS OF MARYLAND
|
|
|
|
|
|
|
|
|
|
(B) FUNDS AVAILABLE TO ELIGIBLE RACING LICENSEES FOR ASSISTANCE
WITH CAPITAL IMPROVEMENTS AND RELATED EXPENDITURES UNDER THIS SECTION
INCLUDE:
(1) PROCEEDS FROM THE SALE OF BONDS BY THE CORPORATION UNDER
TITLE 5, SUBTITLE 2 OF ARTICLE 83A OF THE CODE;
(2) FUNDS APPROPRIATED FOR ASSISTANCE WITH CAPITAL
IMPROVEMENTS AND RELATED COSTS; AND
(3) REVENUES COLLECTED OR RECEIVED BY THE CORPORATION FROM
ANY SOURCES, INCLUDING THOSE ESTABLISHED UNDER §§ 11-403.1, 11-515, AND
11-614 OF THIS TITLE, THAT ARE RELATED TO RACING FACILITIES.
(C) THE COMMISSION SHALL APPROVE AN APPLICATION AN ELIGIBLE
LICENSEE'S REQUEST FOR ASSISTANCE FOR A SPECIFIC CAPITAL IMPROVEMENT
AND RELATED EXPENDITURES SHALL:
(1) THE SPECIFIC CAPITAL IMPROVEMENT IS CONTAINED WITHIN A
RACING FACILITY MASTER PLAN THAT HAS BEEN APPROVED BY THE COMMISSION
UNDER § 11-1203 OF THIS SUBTITLE BE APPROVED BY THE AUTHORITY UNDER §
11-1207 OF THIS SUBTITLE; AND
(2) THE APPLICANT PROVIDES IF THE APPLICANT IS A MILE
THOROUGHBRED LICENSEE, PROVIDE EVIDENCE THAT THE APPLICANT AND IT
AFFILIATES WILL MAKE CAPITAL EXPENDITURES EXPENDITURES FOR PHYSICAL
IMPROVEMENTS IN ADDITION TO THE ASSISTANCE GRANTED UNDER THIS SUBTITLE;
(I) IN THE YEAR FOR WHICH ASSISTANCE UNDER THIS SUBTITLE
IS REQUESTED EACH YEAR BONDS ISSUED BY THE CORPORATION ARE
OUTSTANDING; AND
(II) IN AN AMOUNT NOT LESS THAN THE AVERAGE AMOUNT OF
CAPITAL EXPENDITURES MADE DURING THE CALENDAR YEARS FROM 1994 THROUGH
1998 AMOUNT ALLOCATED TO THE RACING FACILITY REDEVELOPMENT BOND FUND
BY THE APPLICANT AND ITS AFFILIATES UNDER § 11-515 OF THIS TITLE IN THAT
YEAR.
(C) AN ELIGIBLE LICENSEE'S APPLICATION FOR ASSISTANCE FOR CAPITAL
IMPROVEMENTS AND RELATED EXPENDITURES SHALL:
(1) BE APPROVED BY THE AUTHORITY UNDER § 11-1207 OF THIS
SUBTITLE; AND
(2) IF THE APPLICANT IS A MILE THOROUGHBRED LICENSEE, PROVIDE
EVIDENCE THAT THE APPLICANT AND ITS AFFILIATES WILL SPEND, UNLESS
PREVENTED FROM DOING SO BY CIRCUMSTANCES BEYOND THEIR REASONABLE
CONTROL, IN ADDITION TO THE ASSISTANCE GRANTED UNDER THIS SUBTITLE, AN
AMOUNT NOT LESS THAN:
(I) FOR EACH OF THE FIRST 5 YEARS AFTER INITIAL ISSUANCE OF
THE BONDS BY THE CORPORATION, THE AVERAGE ANNUAL AMOUNT SPENT FOR
|
|
|
|
|
|
|
|
|
|
- 1866 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
