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Appendix A- State Regulations on Acceptance of Self -Bond (survey question 3) <br />A.1— Indiana: <br />The mechanism includes: <br />The applicant has a current rating for their most recent bond issuance of "A" or higher; or <br />The applicant has a tangible net worth of $10,000,000, a ratio of total liabilities to net worth of not <br />more than 2.5:1, and a ratio of current assets to current liabilities of at least 1.2:1. The ratio <br />requirements must be met for the year immediately preceding application and must be documented for <br />the four years preceding the application; or <br />The applicant has fixed assets in the US that total $20,000,000, a ratio of total liabilities to net worth of <br />2.5:1, and a ratio of current assets to current liabilities of 1.2:1. The ratio requirements must be met for <br />the year immediately preceding application and must be documented for the four years preceding the <br />application. <br />The applicant must submit financial statements for the most recently completed fiscal year with a <br />report by an independent CPA; <br />The applicant must submit unaudited financial statements for completed quarters in the current fiscal <br />year and comparative financial data from a five year period; <br />The applicant must submit a statement listing: <br />o liens against assets in the US for amounts more than 2% of net worth; <br />o Every action pending against the applicant; <br />o Every judgment rendered against the applicant within the last seven years that remains <br />unsatisfied and is for more than 2%n of the applicants net worth; <br />A.2 — Mississippi <br />§ 4305. Self -bonding <br />(a) The Permit Board may accept a self -bond from an applicant for a permit if all of the following conditions <br />are met by the applicant or its parent corporation guarantor: <br />(1) The applicant designates with the Mississippi Secretary of State a suitable agent to receive service <br />of process in the state of Mississippi. <br />(2) The applicant has been in continuous operation as a business entity for a period of not less than <br />five years. Continuous operation shall mean that business was conducted over a period of five <br />years immediately preceding the time of application. <br />(A) The Permit Board may allow a joint venture or syndicate with less than five years of <br />continuous operation to qualify under this requirement, if each member of the joint <br />venture or syndicate has been in continuous operation for at least five years immediately <br />preceding the time of application. <br />(B) When calculating the period of continuous operation, the Permit Board may exclude past <br />periods of interruption to the operation of the business entity that were beyond the <br />applicant's control and that do not affect the applicant's likelihood of remaining in <br />business during the proposed surface coal mining and reclamation operations. <br />(3) The applicant submits financial information in sufficient detail to show that the applicant meets <br />one of the following criteria: <br />(A) the applicant has a current rating for its most recent bond issuance of "A" or higher as <br />