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EXHIBIT 99.02
STATE OF LOUISIANA
GAMING CONTROL BOARD
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IN THE MATTER OF JAZZ CASINO COMPANY, L.L.C. ("JCC") FINANCIAL
STABILITY CERTIFICATION UNDER SECTION 9.5 OF THE AMENDED AND
RENEGOTIATED CASINO OPERATING CONTRACT
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RESOLUTION
On the 19th day of September, 2000, the Louisiana Gaming control Board
("Board") did in a public meeting consider the issue of Jazz Casino Company's
("JCC") financial stability under Section 9.5 of the Amended and Renegotiated
Casino Operating Contract ("COC"), and upon motion duly made and seconded the
Board passed the following Resolutions:
1. BE IT RESOLVED by the Board that the Board finds that JCC has committed
a default under Section 9.5(c) of the COC, in that it has failed to
demonstrate by clear and convincing evidence that it (JCC) has the
continuing ability to pay, exchange, refinance or extend its debt that will
mature or otherwise become due and payable during the twelve month period
that commenced on July 1, 2000.
2. BE IT FURTHER RESOLVED by the Board that the Chairman be and he hereby is
empowered to issue a Notice of default as set forth in Section 9.5(e) of
the COC notifying JCC that the Board finds that a default has occurred
under to Section 9.5(c) of the COC and that JCC has a six month period to
cure the default after receipt of the Notice.
3. BE IT FURTHER RESOLVED by the Board that the Chairman be and he hereby is
empowered to issue such other notices or directives and take such other
action as he deems necessary and proper to enforce the terms of the COC.
THUS DONE AND SIGNED IN BATON ROUGE, LOUISIANA, THIS 19TH DAY OF SEPTEMBER,
2000.
/s/ HILLARY J. CRAIN
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HILLARY J. CRAIN, CHAIRMAN
LOUISIANA GAMING CONTROL BOARD
ATTEST:
/s/ ROBERT M. FLEMING
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ROBERT M. FLEMING, VICE-CHAIRMAN
LOUISIANA GAMING CONTROL BOARD
