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Sales of Common Stock of the
Murray County Racing Association

The conditions for the sale of shares.

  1. The Murray County Racing Association will have a total of 500 shares. Fifty one percent of the shares will be held by the Murray County Racing Association. Forty nine percent of the shares will be sold at $150 each. 255 held by Murray County Racing Association with 245 sold off to the general public. 
     
  2. Ten percent of the Murray County Racing Association’s end of year profit will be paid back in dividends to all shareholders. 
     
  3. The Murray County Racing Association board of directors will present a budget by March 15th of each year to the general members. Any money left after the general members have approved the budget will be paid back to shareholders or invested. 
     
  4. An investment committee will be set up consisting of 4 people to manage the investments. 
     
  5. If money is needed beyond the budget the majority of the members of the Murray County Racing Association must approve asking the shareholders for more money. Only fifty one percent of money in investments can be withdrawn without approval of the shareholders.  
     
  6. In the future the Murray County Racing Association fifty one percent of the shares can be sold. Only forty nine percent of what the Murray County Racing Association shares can be sold off annually.
      
  7. Shares can be split if needed at latter dates. 
     
  8. Shares sold by shareholders must report the sell of share to the Murray County Racing Association.  A fee will be charged to the new owners.  
     
  9. More than one name can be on a share. 
     
  10. The Murray County Racing Association has the option to buy back shares at the value established buy assets and net worth of the Murray County Racing Association.